One ended up in court costing close to $30,000 and the second involved a lengthy process with the banks lawyers and mortgage team to get the partner off the mortgage when they went AWOL and didn’t uphold their part of the deal.

They will be about $100k out of pocket by the time it's set up.

There can be big costs to join this group, but if you follow the system and need a lot of mentorship, it might be worth the investment.

With Wells Fargo you can set up direct pay and send as much as you want.

If it has not been cashed, I would cancel the check and provide a new one less the cost to cancel the old check.

Below are the key data points:- Gross Rental Income: $118K (I received the rent roll list from agent)- Effective Gross Income: $112K (I'm assuming a 5% vacancy factor)- NOI: $56K (I'm assuming 50% Operating Expenses - inclusive of 10% property mgmt costs, repairs & maintenance and CapEx reserves)- Recommended PP: $623K (Market CAP rate is at ~8%; I used 9% because I want the Cash on Cash return to be 10%+ with a 30% DP at 7.2% interest rate and 30 yrs term)- The asking price is $1.25M.

The biggest pitfall is when a landlord tries to be "nice" - non-paying tenants are literally stealing from you, treat them like the criminals that they are.To calculate reserves for vacancy costs We average about 2-3% vacancy across our portfolio, I use 5% as the number for reserves.

However, I am still trying to find someone who has worked with RP Capitol to setup their investment property and property manager.

I worry that taking on more myself and figuring it out as I go will take longer and end up possibly even costing more than hiring it out.

You're missing the forest for the trees.Sure, it'll cost you to go after them.