The software is also a great location to store tenant contact/lease information, rent roll, maintenance, and financial reports.For all others, set up a secure drop box where they can drop off checks and money orders 24/7.

Run the numbers before you buy it to make sure rent covers everything including repairs, maintenance and vacancies once both sides are rented. 

Purchase price: $118,000 Cash invested: $5,900 1958 3 Bed/2 Bath 1104 SqftLot 9060 sqftRehabbed 2020Rented for $900/month (Can charge up to $1050/month)5% each: Capex/Vacancy/Repairs & Maintenance/Property ManagementCash Flow Currently: $58 Potential cash flow at market rent: $178 What made you interested in investing in this type of deal?

After refinancing, initial investment amount paid back with a 25% equity holding for the life of the property (meaning they receive 25% of the cash flow after all expenses/reserves for vacancy, maintenance, capex, etc. and/or 25% of profits when property is sold)2) When executing the BRRRR strategy, ideally 100%+ of cash invested is returned after a refinance, but I've seen a lot of investors still may end up leaving some money in the property (~$5,000).

The cash reserves with my community haven't been enough to keep up with the maintenance prescribes within the communities reserve study.

Im working on convincing the seller to transfer title and I assume all maintenance and renovation for a 6 month period to flip the property and get the seller what he is wanting once the property is sold or we do a cash out refi (if held).

As long as my withdrawals from the accounts are due to normal maintenance, they remain pretty balanced.I hope that is helpful and please feel free to reach out with any questions!

If so, what should I be considering (high vacancy rate, more headaches, high maintenance costs because of wear and tear, higher tenant turnover)? 

Yet when coaching others about launching an arbitrage business, I am very clear: arbitrage can be profitable and flexible; but like any business in hospitality or property management/maintenance, it takes WORK!

I would make a list of all the 10-40 unit buildings in the area and approach those owners with a trade for managing and maintenance for rent.