QB really is not made well for landlords and landlords leave QB every day for better software, payment processing is really expensive, and with QB there's no tenant portal for your tenants to schedule payments or push maintenance requests. 

Question: I'm an agent trying to deal with an owner on a small commercial prop says once a buyer signs LOI they can get any relevant leases do their due diligence as well as do their inspection before going to contract.

There are plenty of deals in Philly on and off-market from wholesalers, who are pretty decent in Philly compared to other places.You will need to get your GC license here and learn the permitting process and necessity here as well.

You should track your own units expenses as well so when you move out, you can quickly reclaim any expenses or depreciation you built on the personal unit when converted into a 2nd business unit which would then be included on your schedule E.You also write off half of your property taxes, insurance, HOA dues, or any shared expense.

If the Owner wishes toterminate the agreement during an existing tenancy the owner will be held liable for payment ofmanagement fees for the duration of the existing lease as well as a $300 + GST cancelationfee.

My partner and I have a couple units we manage as well in Washington DC.

This could affect markets relying on new chip plants, green energy projects, or other manufacturing, leading to increased vacancies and fewer workers.Conversely, markets with well-established job centers will be better insulated.

Make sure your listing clearly outlines your screening criteria as well as your "house rules" if you're renting out a single room in your home.

What's the best way to navigate this situation regarding the application process as well as the lease administration?

Income should be at least 3 times as well, otherwise they'll most likely move out when you up the rent (I made this mistake once).