I start with cleaning and repairs, then I apply it towards utilities, legal fees, late fees, and rent, usually in that order.I also have a holdover clause that says the tenant is charged 4x of the monthly rent, prorated daily if they hold onto the property after lease termination.

Myself and two partners purchased a buy-and-hold under our LLC.

@Tanya Maslach Since it sounds like you're not really using a property manager - connect with whoever helped you purchase the property to see if they know of a leasing agent or showing agent that you could reach out to help hold the property open to tour at least once to twice a week for an 1-2 hour period on weekends. 

One more I can add is the note investor who thought that holding the note gave him the right to determine how the subject property was managed, with approval of tenants, leases, and maintenance contracts.  

My business partner and I have been speaking with a VC company that is heavily invested in NL and learned that if you purchase a building in a QOZ and hold onto it for 10 years you can avoid the capital gains. 

My game plan is to buy & hold MFH to build my portfolio off appreciation due to cashflow home seems so hard for me in my market 

Based off what you're saying, maybe I should hold off and do elsewhere. 

Investment Info:Single-family residence buy & hold investment.

We would meet once a month and just hold each other accountable for the steps we are all taking in building our RE business. 

Investment Info:Single-family residence buy & hold investment in Nashville.