@Bosko Mijatovic All I can say is there is something that happens psychologically with people when it comes to payment for service.

Is it possible to purchase REOs soon after the loan servicer has taken possession, but before it hits the general public?

If it rented for $1,900 combined, 50% would be $950 but your debt service is $1,300 a month.

Andrew - we will be a nationwide listing service.

Hello Bigger Pockets community! This is my first post. My wife has some experience in real estate investing and introduced me to Bigger Pockets (BP) a few months ago. We're watching the live webinars and the BP shows...

I have enough in life and business to worry about to have one more thing to do.I'm sure other options can be just as easy, but it's nice that it's a service tailored to renters and landlords. 

To start any service business you shouldn't need too much start up capital.

I seem to recall there was stuff like a 24 hour on site manager required at all complexes (crazy and would put most small folks out of business) and a no income source rule that would force all but the higher end rentals into Section 8 whether they even understood it or were aiming for it (classic big penalty, stigma and lawsuit for violations).....I mentioned the small time folks may not all be interested in Section 8 or set up to participate and handle that market.Oddly, the assembly's goal was more housing, better managed housing, more affordable housing.

How is a fair “fee” for the bird-dogging service I’m basically doing calculated?

Current rents: you can glean this information through online sources as well as old-school searching (walk-ins, calling the buildings)Talk to local brokers to get the inside scoopMarket analysisCheck to see if building is in a flood plainYou can ask for, but these items are usually provided after signing a contract: Leases for lease auditing against bank statements, tax returns and leases (usually not provided before a contract has been signed).Tenant payment historyViolations, delinquenciesLease addendum and/or other agreementsTax ReturnsBank StatementsUtility billsCan RUBS be implemented (some municipalities may not allow it)Service contractsReserve fundsEnvironmental assessmentEmployee recordsStructural issues including foundationEmployee historyOther value-add features that can be added include:Trash valetCar portsStorageDog parksTo be honest, a similar level of due diligence is required across multifamily and manufactured housing (mobile home parks).Best of luck!