Also you're probably not really paying much off on principal on a fairly new loan. 

For liability reasons, if something should happen while renting to others, lawyers and insurance companies are very good at 1. trying to assign liability to make a claim or 2. avoid paying on one.To Your Success!

It's a little rough with rates where they are right now for products like a DSCR (Debt Service Coverage Ratio) loan and the associated points you pay out for closing, but the bright side is that if a deal still works despite those rates - there's no reason not to lock it in.

These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc).

.- More Predictable Rates: Rates better reflect the real risk rather than just being based on a flood zone map.Example Scenario (Simplified)- Old System: A house in a designated flood zone pays $1,000 annually, regardless of its elevation or distance from the water.- Risk Rating 2.0: That same house may now pay $1,200 if it's closer to the water and more vulnerable or $800 if it's higher up and better protected.Flood zones still matter under Risk Rating 2.0, but their role has changed. 

That equals less than 1k per property.

Tenant is profusely sorry and stays in contact, but that does not pay the mortgage.

Of course there's a premium you pay but the convenience can be unmatched when you have the right partner. 

We've since increased their rent to market rate, and now we're experiencing late payments.Family Member as Tenant:Issue: Our family member is behind on rent for more than 5 months, with a rate below market due to their relationship with us.Behavior: They have made excuses about financial struggles, yet have been seen treating their new girlfriend to fine dinners and outings.Impact: Both tenants consistently pay late and have shown complete disrespect to us, the property owners, despite efforts to ensure their happiness and success.We'd hate to impact our relationship with them, but right now, they're hurting us and our pockets. 

One of our residents was robbed outside of this property and we ended up paying for the resident to move out and sold this property.