I set up a bank account at the local bank (BB&T) and just have the tenants drop the money in there.  

So even if you bought at peak prices today, after the subsequent drop, the next peak should be higher than the previous.

Would dropping move in  to $400 total still be too much for people? 

Here is the property with me living in it: https://bp-v-newproduction.s3.amazonaws.com/upload...And here it is after 5 years when both units are being rented and the MIP has dropped off: https://bp-v-newproduction.s3.amazonaws.com/upload...Does this look like a good first investment?

When you call around to banks, drop the letter "H" which stands for "Home" - in other words, the place where you live.

Drop me a PM

I know a few people that dropped out of the group (some are agents, one is a broker) because of the shenanigans being promoted by these frauds.

Then prices steady for a couple months, them begin to drop again for fall. 

I told him I would go that Monday since I had to travel another 40 minutes back into a neighboring town to drop the check off.

Regardless, also drop in and talk to the 'squatters'.