In extreme drought conditions, you might see these tunnels hanging from the ceiling like ice scycles.

There are 3rd party loan administration companies that will also "professionalize" the loan transaction, and give the lender more peace of mind.Many advise, for the security of the lender, that you execute a couple of additional documents: (1) document permitting the lender to deed the property to themselves if you are more than xx days late on the payment (often 30 days), and (2) an assignment of rents, allowing the lender to intercede with the tenants and begin collecting the rent directly if you are more than xx days late on the payment (again, 30 days is common).

Bryan, it sounds like you want to have your cake and eat it too.If this were possible --- and I am not saying it is or is not possible --- my guess is that a lender would say that the monthly rent payments that you collect could stop anytime and thus making a loan with that stream of payments is extremely risky.

Is this a common way to handle this issue?

I also find they let me know about issues a lot faster, washer not working, light bulbs out in the common area etc.. ( we manage the building ourselves).

This is a process most commonly between competing brokers on behalf of their agents discussing issues such as what there a coop fee, who showed the home and when, were there any signs of abandonment or estrangement by either parties and a multitude of other factors that only a fair impartial hearing panel would be used to determine if the rules set out by the Nat' Assoc. of Realtors are properly followed.Close the transaction, get your home sold, and thrreated to sue any Realtors for totious interference if any of them threated to hold up the sale unless you pay them a fee over and above what you have already agreed to in writing.

Is this common?

Is it common to also send them to companies who own apartment buildings?

This indicates an expense ratio of about 33%, which is extremely low unless you're doing the property management and maintenance yourself (in which case, you need to factor that time/effort into your equation).The reason your expense ratio seems so low is that you have just rehabbed a couple units and just started filling vacancies.

Jeremy you have an extremely lofty idea here.