I want to see either a consistently high balance, or consistent enough income (friends/family assisting, trust fund, prior savings retained over time) in order to take a risk on someone with no other current income source. 

I would budget for a monthly urgency retainer, a “pay anyway” amount for them to prioritize you! 

Furthermore, from my close observations on BiggerPockets from the past few years those who focus on preparing for the worst-case scenarios can never articulate "how" or "why" their systems will protect them.

The first benefit would be they would be collecting interest payments, the second would be if time has passed and the property has built equity and you have defaulted on payments then the seller can foreclosure, retaining ownership again and can capitalize on the equity.

- You can use showing agents and other forms of leverage to operate in both markets - You can establish a niche of helping New Yorkers relocating to nearby NJ OR Sunny FLCons:- Additional costs to retain license i.e. broker fees, continuing ed, MLS dues, etc.- Lots of travel back and forth depending on your volume and involvement in files/deals (could also be a pro)- Requires serious time commitment to have staff/showing agents helping you out when you're out of town.

In particular, I’m interested in advice on:1.Best practices for onboarding new owners and setting clear expectations from day one.2.Effective systems or software recommendations for a solo/startup operation (leasing, maintenance coordination, rent collection, accounting, etc.)3.Strategies for finding and retaining great contractors/vendors.4.Common pitfalls new PMs face in the first 6–12 months.5.Pricing your management services competitively while still being profitable.6.

Property Snapshot Location: Englewood, CO (80110)Lot: Corner lot — 0.28 acresMain Level: 2 bed / 2 bath (both full size)Lower Level:- 2 bed / 1 bath- Full kitchen & dining area- Private entranceAlready finished when purchased — layout retained and restoredParking: Dedicated access for the lower levelRenovation approach: restored original layout & kept character intact rather than gut itPossible Buyer Profiles I’m Considering1.)

Properties with garages or yards may rent faster and retain tenants longerAlways look at the local inventory—are you competing with lots of small apartments, or are rentals with space and amenities more unique?

These are important for retaining long term tenants. 

We’ve since retained a different attorney but have been added as a third party to the lawsuit because we sent an email stating we weren’t accepting or denying tender but had contacted both title and homeowners insurance to see what coverage might be available to cover the issues.