Personally if I’m going for “mailbox money” I prefer deeds of trust. Why collect checks with landlord liabilities when you can be the bank and have the “owner” pay you interest?... It takes money to be the bank you say...it takes the same amount of money to buy the property as it does to lend against the property. The question is would you rather put money down and pay interest or collect a down and receive interest? Just like in monopoly, the banks always win!