@Michael Smythe I very much appreciate the class breakdown and the opinion because it gives me an ideal way to do my own research and lay out the information.

One minor exception to the comment: not advisable to lose Section 8 funding which could result both an immediate lose of further rents and/or a squatting/eviction scenario.Next:1) In terms of the late rent payment(s) - consider a 3-Day Notice to "Cure or Quit". 2) If step 1) ineffective, consider the lease type - in many states if month-to-month the lessor has the right to submit "30-Day Notice to Vacate" without cause. 3) If step 2) is ineffective, an Unlawful Detainer (aka Eviction) could be pursued.

Why type of investing are you going to focus on? 

@Michelle P Stafford, Any type of calculation of rent that includes a consideration of what principle they would have paid if they bought it, or corresponds to a payment amount of a loan could be considered an equitable interest in the real estate. 

Hi Jake, Using a bank authorization form to ensure smooth payments of rent sounds like the ideal way to go.

Can anyone point me to a good guide or advise on any major differences in this type of investing? 

@Nathan Gesner Is there a specific type of collection agency that is used for renters or any agency?

Ideally I am looking for an app that allows the tenant to pay thru direct deposit at no charge and for the payment data to be collected for credit scoring purposes. 

@Dan Bowe, I think all your answers are below, but I will note that to buy basically any type of deal today still feels pretty risky.  

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