My assignment fees nearly doubled overnight, going from $20k per deal to $35k on average.Shortly after that, in April 2019, I learned about private lending through Chris Naugle’s Private Lending Masterclass and started implementing it.

But, they will also increase long-term returns for landlords in the areas they are implemented, because they will inhibit new development and improvement of existing housing stock.Every law that imposes "protections" for renters has the long-term impact of limiting supply.

Relationships are invaluable, and, while you can build them from scratch, there's going to be a huge learning curve and likely some expensive lessons.If you're looking to do BRRRR deals you will have the most success paying cash, doing some light renovation, and then refinancing once done.

I understand how if you live in a state where you can implement penalties for late payment (this is day 11 now, so today she is out of the mandatory grace period) it may be easier to incentivize residents to pay on time (in Florida, where I live, they start eviction proceedings on the third day after you are late), but in areas like Baltimore that are more tenant-friendly, what do you do to incentivize people to pay on time?

Possible coin machine needed nearby (although most are CC today), additional lighting for added security of both machine and customers.To your point, you do see vending machines in the 200+ unit range, often near or in clubhouse and pool areas.  

@Masyn Grant BarneySmall multifamily properties can be profitable by implementing strategies such as a large down payment, house hacking, seller financing, short-term rentals, joint ventures, opportunity zones, and real estate syndications.

Let me explain that better, imagine your rehab is $100k, you would need to do part of the rehab, maybe $10k, and then you can get the funds for those first $10k reimbursed so you can keep progressing with the rehab.Given your experience, I would recommend you start with a moderate or light rehab, mostly cosmetic work so that you can do it yourself and won't get your profit decreased by hiring third parties.

@David Krulac Do you have a checklist of your due diligence items that you implement on every potential tax sale purchase in PA?

Find outdated units and add great rental value with paint, new light fixtures, smart locks, etc. 1B. 

We're currently planning to finish the basement (Day-Light) of our new construction home.