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.

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. 

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

It sounds like you’ve built an impressive portfolio over the past 15 years.

If you don't do the homework, you will give them the impression you may not be up to doing the homework with real estate investing.

I was under the impression I could buy for 25K put in 20K and get it all back on a conventional Loan.

But you only get 1 chance for that first impression.

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

I'm actually quite impressed that you are going on an educational binge.

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.