There are pros & cons: little to no effort on my part, little to no control on my part, the location is mostly irrelevant (I have investments in 9 states), you need to be sophisticated (knowledgeable), you have to get access to folks that are creating deal (folks that you develop a trust relationship with!).

(Nice name by the way :)You have a really good problem right now, it seems like you got a killer deal set if you want to take it, or you could simply wholesale and collect a handsome assignment fee.

@Napoleon De GuzmanHas a deposit been collected?

However, good luck collecting that additional amount.

We even have some agencies that pay for repairs.Things to watch out for - no appreciation or negative appreciation, evictions, collection issues, tenant issues, and property damage.  

I know my dad ran into them in the late 70s and 80s.. more sophisticated though they had actual offices and they would want 5 to 25k for due diligence fly out to your project ( on your money) then tell you well could not get it done.. your 25k is gone.I knew a guy in Canada who I lent money to in BC who got taken twice by these crooks for a project he was doing..

We needed to make some money as a broker we collected a commission at close.

For starters there are three classes of rental candidates we do not rent to, they are:FriendsFamily& FoolsWay too many stories of that brother, cousin or distant relative moving in and thinking your have "Bigger Pockets" and decide on their own the you don't "need" to collect the rent.

For properties I'm involved with:GP on one 250 unit apartment complex in Memphis where April collections were 1% higher than March and February. 

I would like to introduce these features to improve efficiency and rent collection.