Hi All,I have two door's and am collecting rent on different apps like venmo and cash, but I want to open an llc and collect rent on through that.

Do you rely on local property managers, or do you have your own systems in place for things like maintenance, tenant communication, and rent collection?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

They do say they have a one time fee for debt collection and I suppose negative reporting with a 30 day delay and dispute process. 

You can refer out the deals that you don't buy and collect a commission.

I’m just focused on discovering FOR LATER if it’s a criminal offense for the lender (and borrower) to inflate the payoff for the sole purpose of collecting more $ especially now that it never closed and the prior lender refused to even assign me their lien and the borrower had already used some of the money so OFCOURSE the lender wouldn’t send the money back or they’d be out the extra $ they sent to the borrower that was already used. 

Just make sure you collect more data before making a decision.

Quote from @Yixiong Pan: It's possible, but it's also possible that the tenant will destroy your house and you'll never know.Managing investment property involves more than collecting rent.

Does anyone recomend a Rent recovery service or collections service that will go after a tenant who doesn't pay rent or skips out on the rent and leaves.I have their social etc. and they owe me 3 months of rent about $4500 and trashed the place. 

The state doesn’t have rent control laws, but landlords are prohibited from collecting more than one month’s rent for security deposits.