Using a company to do rent reporting to Credit Bureaus is a good idea to prevent the delinquency in the first place and at least increase leverage to recover the unpaid rent after it has happened.

After around 2 years of payments we sold the loan and went from a loss to a very nice gain. 

It doesn't make sense to hire an attorney for $1,500 when I can do it for $300 and make the tenant pay the costs (or eat the loss).It's also important to understand the PM process.

Flint, Michigan)  That could include crime, job losses, etc.

Common question - "DSCR Loans" are going to have DSCR be calculated as Rent/PITIA (no prop mgmt fees, vacancy/credit loss or any other expenses counted).  

You should be able to offset all the passive losses against the passive gain.

So here is the first thing that doesn't make sense:How can anyone try to convince you that the foreclosure list, absentee owners list, job loss list, water shut-off list, tax lien list, and probate list are "good lists" when 999 people out of 1000 on your list are not motivated to sell?

The only thing that might prompt me into more aggressive action would be if the municipality started issuing a fine each day that I know I would never be able to recover from the tenant and even then if the items had value to the tenants, I might still put them in a storage unit and charge the tenant back for that until the eviction was complete.

In practicality, your lease is saying that you have the legal right to charge the rent up until you find a new tenant because you have a legal obligation to mitigate your losses.

@Summer Burke I would offer to cover the difference (as you mentioned) and then pursue recovering that amount plus any related costs from the contractor, via negligence claim if necessary.