Use many subcontractors instead of a GC ?

However, you must have reasonable limits and hold to them.I give a great example in my book where a tenant abandoned a 2,000-square-foot home full of nice furniture, expensive jewelry, a brand-new $2,000 rifle still in the box, etc.

You now have possession of the apartment. 

Did the son in one of your 4 units declare bankruptcy?

The one I am current using is terrible. 

@Zach Howard I am working on a how-to book on Creative Financing now (I am the author of BP's book on Mid Term Rentals) because when I was teaching myself I was frustrated at the lack of clear instruction.

I recommend you speak with a lender about reviewing whether you could qualify for a loan prior to making an offer, as I've seen these kinds of things blow up.

With this one I would a paragraph that states " in case of any unforeseen circumstances due to the plumbing, we ask that you not flush wipes or pour grease down the drains "  that way you have stated that in the rules part of the listing.  

She put a portion of the down payment (15K)...and of course there is a little equity...

A majority of people who rent homes here have 100% equity in them so any rent will cash flow.