The financials for 2012 are as follows:Rental income: $96,270Advertising: $222Cleaning and Maint: $3,163Commissions: $1,898Insurance: $5,469Legal fees: $60Mgt. fees: $2,230Repairs: $5,937Supplies: $4,017Taxes: $19,340Utilities: $7,170

It seems doable but there will be fees to pay with each membership.

Hello BP,I'm just getting started into investing in real estate-- I also work for a company that offers access to all genres of attorneys to the general public for a low monthly fee.

However, communications with the bank were slow and uncertain and as a result they kept tacking on late fees and penalties which ate up a good portion of his good faith payments, such that he is still NOT good –in fact he’s 90 days and some $18K in arrears.

I explain the process, give them a stack of prepared deposit slips and they understand that is how they pay their rent.Very simple and no risk of you walking around with a wad of cash in your pocket on the same day at the same place every month like those "landlords" who like to get their money put in their hand.

There was a minimal (like $100) resigning fee and the interest rate would reflect market rates.

I plan on giving them their application fee back because I did not get to the point of running their credit check.

They charge a $40 flat fee to assess the situation, then go to the hardware store, buy supplies, and fix the problem that day charging a per hour rate plus the actual cost of supplies.

I know there are some agency that charge a monthly fee to their agents instead of taking a commission cut.

So long as the private lender is utilizing their actual monies and not borrowing from a third party then charging HML fees when they loan it to another, its ok.