We are considering renting both condos long term and hiring a rental management company to collect rent and manage. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

The investors would be advised to pool together some capital to retain the services of an experienced securities law firm to do an analysis of whether they have cause for complain, cause for lawsuit, and reasonable chance of collection.  

Make sure to collect the RPD and LBP from the sellers if possible.

Your thoughts and commentary as an 18 year old is impressive!

@Kevin Lorick are you getting a monthly Owner Statement showing how much they collected and what was deducted?

@Patricia Via you do NOT have to accept cosigners, so if occupant can't qualify on their own, you can deny for income.The #1 question with cosigners is - how can you collect against them?

The reason is for that amount, that's all the attorneys would do on a contingency basis, and they only charged a fee if they collect on a lawsuit, The customer then asked if I would pay him a few dollars instead.

I am new to RE investing, and hoping to tap the collective power of this awesome group in starting my RE journey.

I am pretty impressed with DoorLoop it feels like a more complete Rentredi with better backend technology stack and a United-based support team.