@Jose Fernandez That is an impressive find!

I think changing the name may put you at legal risk as you are only legally allowed to collect certain things from tenants depending on your area. 

So essentially the land is just sitting there not collecting taxes. 

if you mean net like Net from collected rent  that could be pretty tough in 3 years unless you stumble into some unbelievable deals.

@Lydia S. about 20 years ago there were a lot of houses that had cracks in the foundation and owners filed insurance claims with their insurance companies to collect money to fix settlement issues. 

A LLC would protect you to an extent but also show as a red flag to landlords that they would not be able to collect as easily which could scare many off. 

As @Joe Splitrock mentioned, you need to be collecting enough money to account for the parts of the house that are wearing out but not costing you direct money every month - the roof; the water heater; the HVAC; the flooring; ETC.

Criteria that I’m hoping for are:- preferably no cost to landlord for subscription - rent collection possible (and preferably at no added cost to tenant - some have a 2.5% fee even for direct deposit)- maintenance requests - document storage (lease, receipts etc) Any feedback welcome!

My impression is that since were are dealing with multiple PIDs I should be using the 200% rule and breaking them out individually, as well as report on schedule E individually.

The 49% cash on cash return looks impressive, that is helped by the fact you can do the deal with just 3.5% down as you'll be living there.