You could then tell him you have four more and see what kind of deal he will cut.

I am curious as to what kind of questions I should ask the homeowners?

There have been many caught at this and yes the FBI will nail them.. there was a case in NC 10 years or so ago were guys got huge fines and jail time.basically if your at a sale and two or three bidders are going for the same property and they start whispering to each other then suddenly stop or the property gets sold for 1 dollar over you kind of know some deal was made.In our market there were many that would just show up with cashiers check's qualify to bid with no intention of buying their only reason for being there was to get the 1 to 2k pay off.

It kind of pushes me to want to do the same!

This is our first rehab, and we are kind of looking at it as our practice rehab before buying a property to fix up and flip.After buying our first two rentals in 2010, some problems with extended family hit in 2011, and it wound up being a drawn out and expensive ordeal.

As far as automation, I'm thinking in terms of a seamless process for receiving applications and processing background checks, some kind of built-in follow up system for late rents, the same for handling maintenance or update requests, etc.

I have considered doing some kind of online payment, but haven't decided yet.

The nicer the community, the less likely they are to welcome Lonnie Deals of any kind.

It's a learning process and I thank you all for being kind enough to help

What kind of deals have you found?