One option you might try is to go to Bi- Weekly Payments, this way you collect on the same cycle as their paychecks.As long as both of your tenants still have their jobs, I would ride it out, the 2nd thing is how are they maintaining the property, are you going to have to spend thousands of dollars on repairs because of damage to the property.

Catherine id highly recommend spending a full day or two consuming youtube videos that specifically go into detail about this process, theres so much to teach and writing this whole thing out would literally be a whole book.

I can't re-iterate enough how much better data I have actually spending time analyzing my market and understanding my competition. 

If I had just called a couple different handymen for quotes, the issue would have been fixed sooner and more professionally.In conclusion, if you want to spend a nontrivial sum each month to make your life more difficult and your work more annoying, Latchel is one way of doing that.

Those in earthquake zones who INTENTIONALLY don't have the readily offered coverages for such, ARE THEIVES by NOT insuring with expectation of DEFRAUDING the rest of us to pay for there gamble. 

Additionally, make a commitment today to at least spend a few hours a day learning about real estate investing.

Spending that much money and not having an ideal about whats gonna be put in place is not how I do business.If you notice on this draft from the architect.

All that being said, beggars can't be choosers, and when you're going after your first property it's more important to get your foot in the door and learn the business than it is to make a killing on your first unit - i.e. if you have to make a slim margin to get a great case study, that's better than trying to charge 30% for something you've never done before and spending a year trying to convince someone to roll the dice on you.

And there are syndicators out there that have long, strong track records, that spend more time operating than marketing, that aren't selling their guru courses and the syndications are just social proof as to why you should spend $30k on their course.But the flip side of this risk is time.  

Spend a few hundred dollars and speak with an attorney.