Make sure to collect the RPD and LBP from the sellers if possible.

I am new to RE investing, and hoping to tap the collective power of this awesome group in starting my RE journey.

There are other free services out there as well.If you only have a couple units and that is all you want and you never plan to hand off property management then you can probably just collect checks and have tenants text you.Personally I don’t like tenants texting me issues, they are too easily missed or forgotten about.

They will think you are running a tenant screening/tenant application fee collection scam. 

I pay 4000 a year in taxes for a brand new single family home I can only collect 1100 a month on....4 months of rent to just cover property taxes,  insurance is another 4000k.... that's 8 months gone.  

They collect a month of rent and then walk away, whereas a property manager has to deal with that tenant for the next year.

In particular:(1) Should I hire a law firm or collection agency to facilitate the transaction?

This of course, would need to be defined in their lease agreements and would also require more work collecting those payments.

My goal is to leverage my hospitality background to create unique and profitable real estate opportunities.I’m here to learn from the collective wisdom of the BP community and share my experiences as I navigate this new journey.With gratitude and excitement,

Goals - looking to expand/grow and move out to the next hack or hunker down and collect cash flow?