Of course, the $750 security deposit I collected will also factor in.

Create LLC, contract on HUD home, get a online pre-approval letter or if u have your own POF or pre-qual letter, find wholesale buyer, wholesale the LLC, get your fee or only collection a portion, retain 1% ownership to sign close docs, close the deal, collect rest of fee and wholesale person gets the house.

Now you may only collect 70-75% of the cost of repair after depreciation and don't have the option to take the money and sell off the lot.

The property management agreement I signed "grants the pm the sole right to institute legal and collection actions on behalf and at owners expense, to perform evictions, recover possession of the premises, and to settle and release such actions."

You don't have to do anything manually and you don't have to collect any money at all.

Did the previous landlord collect a security deposit, pet deposit, etc and pass those funds on to you?

There is always a way around or a way to make it work it , in these areas it must definitely  be a local property manager who knows how to work the area and collect rents.It might mean paying him 15-20% of the rent collected but if you are cash flowing like those high numbers in Baltimore it all evens out if he gets the job done.I wouldn't hire a middle aged lady from the suburbs to manage these properties - she probably wouldn't be interested anyway lol - just my personal opinion anyway.Thanks

You can screen tenants, collect rents, and do evictions.

You just buy and start collecting payments (or start the eviction).

Should Lessee default on the rent payments of this rental, Lessee hereby authorizes landlord to lock out the Lessee and seize and/or sell Lessee’s property to offset any rent loss suffered by landlord, or agree to a judgment in favor of the landlord for the amount of the debt in addition to collection and legal costs.4.SUBLEASE AND ASSIGNMENT.