Thanks for great guidance @Marc Winter Question - Why would you not post the 'pay or quit notice' on the 2nd as Thomas S. indicates?

That will give you a good indicator of whether to keep it or not.If it's a good returning property then a refi might be warranted. 

It has a 50%-plus contact rate, which I've (anecdotally) found often indicates it'll be rented in 2 weeks or less.I think you're right to shoot high initially, but "Semper Gumby," especially with the start of the school year bearing down. 

The yield curve starting to flat line which is a strong leading indicator for market corrections.

I am purchasing the homes at fair market value and close next month.The engineering and city applications are already submitted for the subdivision and signs indicate it will be approved or else no deal.I have the homes under contract and the property owners have signed another listing agreement to allow me to market their homes to the next buyer.

@Caleb Heimsoth I agree thats a great indicator.

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However, making sure you have a pet addendum that indicates the rules and regulations surrounding the pet is crucial. 

I second cozy.coI’ve been using it these last few tenant cycles and it’s a great tool in many ways.1- if the tenant won’t pony up the $40 fee or take the time to do it, it’s a great indicator for me to who I’m dealing with2- I don’t have to take applications and money and I don’t feel bad for taking an app fee and not giving it to those applicants. 3- no need to collect ssn and to destroy4- Tenants can’t leave anything blank as they can with a paper app5- feels more formal and professional 6- generally the type of potential tenant I like to deal with that can use tech to communicate, which gives me a glimpse to how they’ll handle future complaints and requests. 

If NOI is 50% of Net Rental Income (not GPR) then that's generally a good indicator the asset manager\owner is running things well.