I’m trying to avoid analysis-paralysis so I figured the first step was to start communicating with the real-estate community!

Those small costs add up and they do not follow though with holding security, or communicating with tenant as I would like but play God rather in deciding how to apply the law.

You can usually find some events by doing a simple google search.

They typically communicate that they will be late and do end up paying the full rent plus the late fee by the end of each month.Unfortunately, we've reached a point this month where they submitted a partial payment at the beginning of the month and have now become unresponsive and have not paid the monthly balance.

This new structure has come with many many headaches for me, the prime one being there was absolutely zero communication with owners like me about the change.

I really recommend keeping things simple at this point, grow your income, and grow your knowledge.

Let's use 10% to keep the math simple.  

One very simple example: If you wanted to send money to someone in France, you might go to a bank or Western Union, fill out some paper, pay a fee, wait a week.

I would not add much, a simple bedroom, bathroom, kitchen, and hvac.Another aspect of this deal is that the building is listed as a historic building and thus could qualify for some grants. 

I never received any communication directly from the Land Bank despite constant follow up and inquiries.