I need a rmlo for SC asap and a licensed loan servicing company.

The free service, for landlords with two or less properties, tracks expenses, profit/loss, etc. of your rental properties ($50 fee if greater than two) but it requires linking accounts in order to automatically track and categorize expenses for you.I’m always uneasy when a website requires linking bank accounts.

The other option is to do a non agency product, such 12 months average bank deposits or asset depletion or DSC (debt service concerage) where 90% of the rent covers your total monthly payment 

Fix the roof and replace carpet (but we don't have cash reserves to pay for it). 

(opinion bonus) Is it worth the extra $2,000-2500 to hire two attorneys in two states to set up these LLCs/OAs versus utilizing some services I see where it can be set up for about $200 each if you add in EIN/OA work and maybe $125/year for registered agent in that state?

By the way, if you feel the need to save a few dollars, many Property Managers offer a service where they will market the property, handle showings, screen applications, and get the tenant moved in then they hand it over to you for on-going management. 

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.

In all fairness with the amount we are saving for reserves and cap ex it is closer to 2000 a month but it was a killer deal.

@Michaela G makes the point everyone forgets: the federal govt. is not prosecuting right now but reserves the right to.

My plan would have been to reserve enough of the loan money to make a year's worth of payments and use the rest to invest in distressed properties.