Typically, if you have a mortgage, the mortgage company will collect taxes and insurance when you pay,  so there is not really any budgeting required for this.

If a bank does this, they have no flexibility in their lending and must meet Fannie Mae's and Freddie Mac's requirements in each loan.

To evict a tenant based on a lease violation such as hoarding would require you to notify them and then give them an opportunity to fix the situation.

I just used cash to build my first 3 specs no loans at all.. once done and sold then I went to lima got one loan from them.. then went to local bank ( much much cheaper) and got a 3 mil  guidance line and went on to build 30 or so in charleston.. you have to prove the model.. its not like buying a rental where lenders look strongly at your fico  fico is required but not the main consideration like and investor loan and all you need is 20% down or 30% down and a few bucks in reserve that wont fly with spec loans..

At the heart of effective property management lies the ability to balance the competing interests of three critical stakeholders: owners, tenants, and vendors.

First off, all high skill requiring items let's remove those.

"I'm willing to cancel the eviction so it doesn't reflect on your record if you vacate on x day and pay x toward your outstanding balance"Most tenants are unaware of the long-term consequences when they have an eviction on their record.

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

Principal mortgage balance is $159,531.

I’m unsure what kind of notice I need to give them—does it work the same way as residential leases, requiring a 120-day notice?