🎉 Big upgrade from checks-under-the-doormat 😂 There are a few good all-in-one platforms that handle online rent payments, leases/docs, and maintenance requests: Avail (super beginner-friendly, good for smaller portfolios)Buildium (more robust, but pricier, usually better if you plan to scale)TenantCloud (solid free tier, covers payments + maintenance tickets)AppFolio (very powerful, but typically better once you’ve got 50+ units)  For a first 4-plex, I’d say Avail or TenantCloud is probably the sweet spot.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

The other thing I learned for the future is to include a small % increase every year written in the initial lease which generally keeps up with inflation as well as avoiding the uncomfortable conversation later.

What I’ll bring: Process-driven operations, conservative owner comms, transparent KPIs (vacancy, turn time, WO cycle, reconciliations).Clean SOPs for leasing/screening/collections/inspections; consistent trust reconciliations; compliant advertising.  

The key is ensuring your property meets their furnishing, lease flexibility, and safety standards, since most medical staff and students look for turnkey, move-in-ready housing.

5) What lease will you use?

Not the end of the world but moving is already stressful and that just made it even more so.Also, put everything you want the tenant to do in the lease.

Also, for the specific 500 hours of material participation in the remote rentals, now I understand that rehab hours count, and leasing and operating the rental day-to-day count.

.: A family member quit claimed a property to me 5-10 years ago, and I leased it back to them.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.