I definitely don’t disagree with create efficient systems, but I do think there is value in learning hands on until you have “proof of concept”.Anyway, best of luck, feel free to reach out with any questions.

Hypothetically - this is in Virginia but most states adopted the federal laws   Owner - Grandparent Heir - GrandchildParents - NOT involvedRent collection after death - FriendProperty guardian - assigned If rental property is left as inheritance  to minor GRANDCHILD  - after the death of the grandparent : -to be transferred to the grandchild when he reaches 18 - Deed in place , - to be rented  until then - - the rent to be collected on the behalf of friend , claimed by the friend as rental property for tax purposes, and the friend pays taxes on the income.Question - Is this possible and what will be the issue in this case scenario?

@Nathan G.Yes, I will ask for the proof of income, and also will have the lease termination paperwork ready.

if this loan performed for lets say 3 years it collected  84k.

I just go to the property in person once a week and collect the weeks rent in advance. 

For the applicant that I accept as my first tenant, send them an acceptance letter and collect security deposit + first months rentI am sure there is something (maybe a lot) that I am missing.

And to answer the second part you would collect funds in your account, and distribute them according to the contract.

I was told if I moved to MN they would want to collect state income tax on all my Nevada rental income.  

Is there a reason you are waiting until June 1st to collect the deposit because you are locked in way more than them if something better comes along. 

The commission says so (see second to last line):https://www.state.nj.us/dobi/d...Meanwhile, I would expect that your NYS real estate license would be your proof.