OTOH, if one of you puts up 100% of the cash and the other one manages the property (screens tenants, deals with issues, etc.) then I'd say the one doing the management should get the PM's fees (typically 10% of collected rent plus half a months rent to fill a vacancy) and the other should get all the cash flow.Partnerships are fraught with problems.

I'm looking for a cheap way to collect rent online directly through my website.

You could add some for your trouble of having to collect twice per month and ask her to pay $ 475 every 2 weeks, according to her payment schedule.

If you are working with a experienced lender, some will do monthly payments and some will collect at the end, depends on your experience and the specific deal.

I budget about $100 and the possibility of not being able to collect rent for up to 2 months or so since I do the legwork myself.

Isn't it great, the court gets to hold the money and collect whatever interest accumulates...great system!

If you started marketing the day he moved out in November, you probably could have had a tenant in place by mid December or early Jan. and you wouldn't have been out any lost rent.I know this may not be what you want to hear, but if you seek a judgment it is going to cost you filing fees, attorney fees, and then you still have to collect the money.

None of them know each other.. 16 rent checks/cash etc to collect. 5 of them $75 late every month..

There are excluded or limited items, such as cash, electronics, collections and such that may need to be looked at specifically and insured by riders or endorsements to a basic policy, if they choose to insure over those limited amounts.The issue for you is the liability coverage they obtain under a tenant's policy, that's the only concern you have and that could reduce your liability issues, so you should check with your agent.Many variables will apply in determining their liability issues and yours as well as how and when your insurance may be affected with any claim arising from negligence of a tenant.

Are sellers still present at double closings when the wholesaler collects his/her fee?