This is quite simple to do with the help of numerous accounting software available (many free) or even excel spreadsheet.Your wife would be allowed to have an account under Solo 401k is she is also participating/working in the business.

While I own numerous duplexes and SFRs, this will be my first true apartment building.

If you have a desirable unit at a fair price you will have way more applicants then you know what to do with.

HiI am renting out a house for $3300-3500 rangewhen I run applicants in NTN they tell me "accept with conditions" co signer , rent to income"One of the applicants was renting a house for 2800 and paid well during last 2 yearsthis applicant makes 100k a year plus receive 650 month incomeI know that in Manhattan some people pay almost 50% of income in rentI am not looking form an A applicant, because he is going to buy a house and move out in 1 yearcan I ask a sown payment rental ?

In fact most states require it as part of the application for a license, therefore; you will need to work with someone to get on the job experience.

Not really and real difference unless the L/P has a default provision with damages and that probably isn't done except in unique situations, and no, don't go there as some strategy, damages may be applicable in commercial transactions.Actually, neither one is best as each may be unique.An option doesn't tie up a property as it can be sold subject to that option.

Who would be the best source to hire to show vacant units and collect applications without packaging it with full property management services?

I have found few applicants look at my houses that are looking more than 2 weeks out.

You need to know, not assume, but know, foreclosure laws and requirements of securing collateral in the state where the property is located and as applicable under the Uniform Commercial Code and applicable federal laws.Buying a note is also assuming the liabilities to some extent of past note holders and the originator.

In addition to the good responses you have already received I would suggest you charge a higher monthly rent if you decide to lease for 6 months (plus 1 months deposit as already stated) instead of waiting for a suitable applicant for 12 month lease because you will have cleaning/releasing expenses at a minimum when the 6 month lease is up.