You will work directly with the title company to ensure all legalities and documentation are correctly executed and recorded. 2) You will work with a title company for the transfer of ownership and they will collect the money accordingly and hold it in an escrow account until closing, where they will disburse the proceeds of the sale at closing by check or wire. 3) - The buyer not depositing the EMD on time    - Too long of an inspection period where they can back out anytime without risk

It might be more useful to set your sights on the reality of today and tomorrow and end of the month.Things such as learning to collect the rent, learn to place good renters in the property, etc...

remember: if the net amount that goes to your mortgage after you collect rent is equal to or less than what you'd pay renting - you're ahead. 

We use a cloud based program(rentecdirect.com) that automates many tasks including collecting rent, screening tenants , broadcasting our vacancy listings, accounting, etc).  

I am looking for any information I can find regarding building a community on a large parcel of land, selling the homes, and collecting lot rent. 

I can't send rent if I didn't collect it. 

For example, if the previous last month's rent was $1,000 and the new rent is $1,100, you would request an additional $100 to cover the increase.Update the Agreement: Ensure that the lease renewal includes a clause that reflects the new last month's rent amount.Refund and Repay:Refund the Previous Deposit: You can return the last month's rent from the previous lease to the tenant.Collect New Last Month's Rent: Then, collect the new last month's rent at the increased rate as part of the lease renewal process.Steps to Take:Review Your Lease Agreement: Check the current lease agreement to see if there are any specific clauses regarding the adjustment of last month's rent upon renewal.Communicate with Your Tenant: Inform your tenant about the rent increase and how it affects the last month's rent.

I understand that because the cash flow will be delayed for 1-2 years, I am technically paying such good price for the apartment, therefore I would like to collect more opinions on this type of investment.

I use Buildium and QuickBooks - Buildium for tenant placement, screening, rent collection, etc. and QuickBooks for finances. 

I rented to him and have zero issues collecting rent.