Just for example, if you buy a single family home to flip at $300k and your rehab budget is $70k (which isn’t a ton - very easy to hit that amount) your ARV is definitely going to need to be above $500k to make any profit/make it worth doing at all.  

The least states:"Tenant shall pay a "late charge" not in excess of five (5%) percent of the amount in arrears for each month the arrears remain unpaid if any Rent is paid more than ten (10) days after the due date thereof, to cover the extra expense involved in handling delinquent payments.

@Colin Ford Spend a good amount of time building your team in Florida.

Advantages are we don’t have to furnish anything in the house and we collect the same amount of rent each month no matter how many members are in a house.

If they pay the new amount on time no problem.

If you buy less or take cash out you will pay tax on that amount. 

Due to the nature of the shorter lease terms, I am spending an excessive amount of time updating my Excel spreadsheet, MLS, business website, Airbnb, VRBO, and other platforms.

I asked our manager about reducing the rent but he said we are asking a fair amount and we are getting lots of interest but a lot of cancellations, no shows, or people who don’t follow through with applying or don’t meet minimum credit score.

Consider this, as an “experiment”, 24 months ago I invested $300,000 in equal amounts ($30,000 in each) in 10 speculative small REITs.  

A continuing resolution continues the pre-existing appropriations at the same levels as the previous fiscal year (or with minor modifications) for a set amount of time.[1] Continuing resolutions typically provide funding at a rate or formula based on the previous year's funding.[3]If you scroll down to 2025, you'll see the government is funded through 3/14/2025.