There was roughly 3 feet of clothes, trash, etc. piled in the entire house when we purchased it.

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

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. 

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.