Then take pictures of exactly how you found it and how it looks after cleaning.Start by sending them an itemized bill within the timeframe allowed by law.

Quote from @Bill Hampton: Quote from @Vivek Kumar: I am sorry not sure what you mean @Vivek KumarWhat he means is that you should have a checklist for tenant qualifications.

Would appreciate if someone could step in and say where we went wrong or if there is an error with the books answer. 

Quote from @Bill Hampton: @Tomoko HaleCheck with your city/county regarding STR regulations first. 

If you are also living below your means, saving, and reinvesting after tax dollars you can get the ball rolling faster.Nothing ruins an investing career faster than a surprise $20,000 CapEx bill to a new investor who has $2,000 in the bank and just spent every penny they have on a high risk property. 

Quote from @Bill Hampton: @Katie NolanWelcome to Bigger Pockets.

It doesn't quite remind me of 2004-2008 since the borrowers need to have a history of paying their bills on time and provide evidence of the capacity to repay the debt, for investment properties lenders are requiring anywhere rom 10-25% down depending on the loan amount and documentation. 

Some PMC handle it themselves inhouse.Most donot, but hires an attorney and send the bill to Landlord.It all depends on what is written in your PMC agreement.That is why it is very crutial to vet your PPC same as you vet your tenants when you are self managing .

Quote from @Bill B.: Ask your lender if there’s a discount at 25 or 30% (assuming 20% is required.)It used to be “dumb” to put down more than required when rates were 3%. 

When not allowed:-The entire outstanding balance including repairs, utility, unpaid bills and other charges and the outstanding rent for the lease duration is due immediately.XV.