Let the tenants know the sheriff has been scheduled and will show up and move all of their items to the curb, so they are better off getting out now.

When someone presents to "tap" Private-$ we want to do as little thinking as humanly possible, that's to say the burden is on you the proposed borrower to present a complete, detailed "pitch" outlining the allocation of every cent, contingencies, time-lines, data supporting each action item.

@Randall AlanWhat kind of insurance do you carry if you have SFR in Florida? 

The 10% is probably for ordering items and being there when goods arrive, unboxing and removal of packing materials, assembling any furniture that needs it, placement and moving things around, putting up artwork, and washing new plates, silverware, cooking pans, coffee carafe, prewashing all sheets, towels, and linens etc. 

But for non owner occupants, not only do you pay 50% more than the owner occupants, you also pay the higher rate on these items that are not included.  

I have a great general contractor and agent that tours the homes, does the work, and finishes up punch list items.

Our current criteria are: no evictions, no bankruptcy, income 2.5x rent, max of 5 non-medical related collection items, and no collections related to unpaid rent or other past rental related obligations.

@Devan Dorzok  Lots of potential items:- How many units? 

It sounds like you will breakeven which is better than carrying a negative cash flowing property for years.

Utilities $14,845, Insurance $13,530, Taxes $7,493, and on down the line items from there.NOI: That yields $85,350 in current run rate NOI.Lessons learned?