You'll also need a way to collect your security deposit(s) and rent.

Some state limit the fee you can collect and may limit who can collect - only attorneys for eample.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

He had collected a $5000 deposit from them, and also was collecting more from them on a monthly basis that what we had originally been renting it for and pocketing the difference.

Anyone here with experience installing rainwater collection systems either below or above ground on new construction vs drilling for a well? 

Like who will manage the building, what is the collective rent, what are the taxes and insurance, is it all up to codes of the town, zoning questions, what is the as-is value - this will be very, very hard to comp and the lender will come in at the low end of the comps for sure. 

I managed the property profile by optimizing for enhanced visibility. 

Interested in how others have collected, whether to use a lawyer or a debt collection firm.

To give you a bit of background, I know very little about bookkeeping beyond managing my budget for the last three decades (ugh), so this is all pretty new to me.Here’s my current setup:I’ve had a property management company using AppFolio to handle the heavy lifting – rent collection, owner distributions, expenses, and the whole shebang.

The tenant didn’t pay last two months of rent and we have put him on collections.