hi all i am a new landlord and got my first rental property. tenants moved in in September and October. the first month was fine but when December hit it got extremely cold and the heating is electric. due to poor insulation in the home that we did not know about the heat has to be turned very high up to keep the home warm, however since everything is electric it is causing the electric bill to be $800. the utilities are the tenants responsibility. however because of this one of the tenants has been extremely non compliant with paying rent.

Even the most expensive property managers are EXTREMELY cost effective if you really think about it!

I have about 100k in assets both personal and business I could sell, but part of me thinks that’s extreme and I’ll sell “myself” along the way with all my stuff.  

It is extremely odd the previous companies did not ask for that if they are collecting rent for you and issuing you disbursements.  

I would not recommend them as their points and interest rates are so high it is extremely hard to find a deal that will work with the 0% down.

yeah the tenant pushing back is my concern. it just so happened that this happened with the tenant that seems to not like paying. and the heating is electric and this winter has been extremely cold which caused the electric bill to jump up to $800!

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

I've learned that it's extremely important to find balance in this industry as your passion for your business can impact your personal life greatly!

And, even then, hitting your rate target would still be extremely challenging unless you were paying points up front, in which case it would probably make more sense to just try to put in a bigger down payment (or pay down the balance if refi) instead and get better terms naturally offered at the lower LTV.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.