They agreed to pay in accordance to the lease and failure to manage to the lease is the #1 reason why landlords fail (Source: American Apartment Owners Assn).Cowboy up and stop having the tenant control your ROI.Best.

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

Like you I also have the RE license to keep some of the commissions and better control. 

Weigh convenience vs. control—your renovations and location set you up well for long-term growth! 

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

The whole point of this business model is to help investors take back control and pay $0 in origination fees while still getting the best rates and terms. 

You can expect that you will be required to build roads, sidewalks, storm water control, utility taps, street lights, street trees as well as recreation fees as part of the development process. 

I also like contractors that have packets that allow you to pick out the stuff that you want to use for that project, which reduces the quality control process..

Appreciation = Specilation/Gambling.We have little control over the factors that affect it, albeit for making improvements that will force it to compare with other likenpropetoes that are in a higher bracket.

These typically include services like renters insurance, HVAC filter delivery, pest control, and sometimes utility management.