Also I heard ATMs are a good business model as well that's totally passive.

When I took possession I told the tenant she had to go - she was mess anyway - and I told her I was going to renovate it.

@Austin WalkerI use 6 months in all my financial models.

I think the bext step once you have a solid business model is to start approaching the complex owners and offering to manage units for them that they want to airbnb.

If you prefer they pick your traditional security deposit model, incentivize them to go that direction.

Build 12-18 months worth of debt service being escrowed, so net that out of your expected proceeds when modeling the equity requirements for a deal. 

I’m mostly just seeing If anyone has done anything similar.I see this as a “commune” model that could be successful.

I will say a private lender in the sense of an individual or their entity lending out their own capital is more of a relationship model like you mentioned, but they also tend to have very different terms. 

This is pretty much the lifeblood of the syndication business model.

If you have a problem tenant, after one month it’s no longer a problem tenant, it’s a problem landlord by not sticking to your business model.