The way I understand it the rent credit model is when a portion of the tenants' rents gets tallied up until they've accrued enough "rent credit" to purchase any home on the park.

@Chris FrydenlundEach county will have an interest rate that will accrue with the certificate.  

Interest starts accruing as of March 1st for liens bought in February.

So if you borrow $10,000 at 5% from  your policy, that $10,000 is now accruing $500 annually in interest and is also not in the account earning the dividend rate of 5% so your effective cost is actually 10%. 

In accounting the money given is applied toward the previous months balance.. so if they had a previous balance due of accrued late fees of like 150.00 then the money they would pay for next month's rent would show as a shortage on the account ... make sense ?

Without going into detail, this generation was born in the right time and the right place to be able to accrue more monetary wealth than the generations before them.

Some very good tenant through the years had consistently paid me a few days ahead of time, and for that, I'm grateful.Technically, in leases around here, they have a grace period of 5 days, so late charges won't accrue till after the 5th.

Interest started to accrue 12% annual interest from the date I first filed the complaint.The next step is that I wait for 30 days (9/1/17) and can then ask the Clerk of the Court for an "order to show cause", whereby the defendant has to show a good reason that he cannot make payment.If he fails to show up or fails to show an adequate reason that he cannot pay, I can ramp up the collection efforts up to wage garnishment or asset seizure.He might be hoping that I'll just forget about this and go away.  

Hey @Grant Snyder .. when you mention the 4 br college rental and that it is netting $250 per month, is that taking into account the accrued equity wrapped in mortgage payments or is that primarily the net cash return?

As long as you don't try to increase your lifestyle/consumption to match what you start accruing (cashflow and assets) in real estate, you should be retired quickly.  :-)