And what you are saying is good business practice all around.

Purchase contract with some good outs, or an option, something that gives you leverage to collect your fee.Unlike the others if the price was right I would take a quit claim deed but I wouldn't record it and the seller wouldn't get anything until all was right with the world.

You would increase your odds of collecting rent, not garauntee it.

There are 3rd party loan administration companies that will also "professionalize" the loan transaction, and give the lender more peace of mind.Many advise, for the security of the lender, that you execute a couple of additional documents: (1) document permitting the lender to deed the property to themselves if you are more than xx days late on the payment (often 30 days), and (2) an assignment of rents, allowing the lender to intercede with the tenants and begin collecting the rent directly if you are more than xx days late on the payment (again, 30 days is common).

I am trying to figure out a way to have a mortgage on a property instead of having it free in clear with renters so that I can simply collect debt payments on some of my portfolio.

Most landlords I speak with regarding Section 8 only take those tenants where the tenant-paid portion is so small that the landlord is willing to forego collecting it; their expectation is that it will be unpaid at some point, so if it is a negligible amount they just don't worry.

I've heard a few instances of it happening, but I also hear that the bank needs to bid-in at the amount owed in order to collect PMI or turn it over to freddie/fannie/HUD.

I collect their email when they move in and i find they are more comfortable communicating via email.

The cost is built in somewhere to what they are doing.We get landlords offering free rent here for 1 year.The rent isn't free on commercial as they then have year 2 at a higher than normal rate to recover some of the lost rent and then built in escalations that are higher and more frequent than normal.Never get sucked in by a gimmick.I tell all my clients to be slow and methodical in doing a deal to avoid "knee jerk" reactions.It takes a long time to make money and a small amount of time to lose it.You also have to watch out for if they are in pre-foreclosure or not.They could be trying to collect an upfront payment with free rent and then walk.

How do you expect to collect your wholesaling fee from a non-cash buyer?