PM's typically charge 10% of the collected rents plus a half month to fill a vacancy.

(I do like the idea of looking for another Ins Co.).The cop might cost $100 for the hour or for service, throw that on the costs of collection.

My observation is that the phone and cable companies are way better at the collection end of their business than landlords.

Two days before we were scheduled to go to P&S and I was to collect half of my fee, the buyers backed out.

- When keeping a property as a rental, what are the best practices to rehab a place?

You will have to front the $, then he will collect other half midway from the lender. at closing, he collects the final 1/2 & reimbursese you.Make sure you get it in writing & that he is licensed & bonded. you don't want him running off with your $ (not that he will).Yes rehab loans are a pain but it's a great way to use other people's $.I think you have a great plan & minimizing your risk.

Have they changed this practice?

Thanks for your thoughts Bill Gulley... very practical thinking there.

When the Certificate holder wants to collect, he applies to have the county send the property to a tax foreclosure auction.

That book tells you about valuations of properties, appraisal process and the markets as well as comps.Negotiate a price, again, that book will talk about required disclosures, contracts and issues to look for to base your deal on.Say you take an option, get it signed and file it to protect yourselfGo to your buyer and sell the option to themYou might set up closing and let the real buyer do the buyer's sideYou go to closing and collect a feeBut, this may not be that is accepted locally in your area, a closer may not work with you, so now you have pie on your face because you didn't learn from the beginning.Gurus that say just jump in a deal are giving poor advice, you could muck around for months even years if you stayed at it and be dependent on others while you are used, ya think they want to teach the local competition?