One other thing to consider is to verify the seller’s ACTUAL rents collected.

., collecting rent, screening tenants, dealing with move ins and move outs?

I get your point about collecting enough rent so that when you do need to put cash in it's less painful.

Hey everyone,I thought I would start a thread to try and collect everyone's experiences on the best/most effective ways you have cut your expenses on your landlording business.

Just know if you have a certain type of tenant base ongoing rent collections and dealing with their "issues" will be involved.

Clearly you collected paperwork in some attempt to review and understand them.

You are then responsible to collect the balance from said tenant.

But doesn't look very good.Next, in January, you won't be able to collect the payments yourself, you'll need a servicer to collect them under new regulations, that is another federal matter.Next, and strike three, you have an agreement that circumvents foreclosure requirements, now since Texas doesn't allow installment sales, it won't be allowing an installment with any equity amount to require or exempt the foreclosure process, so again, you stepped on it.If you have made any arrangement to convey title after the financing, it's a purchase arrangement and they folks in that house are not tenants, regardless of what you would like to call them, they are buyers, with ownership rights.I'd honestly say you're screwed.

I can also file a second cause and supply an invoice for lost rent, late fees, eviction costs, and anything else the court deems acceptable and file it against the tenant and then send the collection agency after them.

I think you'll fin that a one man shop will be tough to do to stay up with compliance, next year you won't be able to collect you own note on a residential deal.