Here's a list of things to track:- Formal lease application- Formal signed and executed lease specific to your state- Payment history (I recommend using online rent collection like Apartments.com, RentRedi, etc)- Maintenance requests and receipts- Accounting for all rental-related expenses (repairs, utilities, etc) The more you treat it like a business, the more helpful you are to your CPA come tax time. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

If you have a written lease, this should be a straight forward matter to process the eviction.

The newest outdoor is still advertising 1st month free as they haven't filled up, and I spoke with the climate controlled owner/builder yesterday (he's a pretty big REI in the area), and he made it sound like he hadn't leased a single climate controlled unit since they opened a few weeks ago.I recently purchased a 140x45 warehouse with low ceilings and had debated doing self storage, but my market seems very saturated.

I have a one page lease addendum to cover this, that is executed with every tenant and every lease.

If you do, I recommend you hire a real estate agent to help you lease up the units.

We use RentRedi for tenant screening and management, lease documents, automated late fees, messaging, maintenance requests. 

, and lease history to name a few.Don't be lulled into complacency by seller financing either.

I also consider this entire Arbitrage / master lease as passe'.

Both homes are now rented on two-year leases at $2,175/month.