They also effectively limit use of security deposit and last months rent by requiring landlords to offer interest and penalty free payment plans for those costs if they exceed 25% of one months rent.BEFORE they limited use of criminal history and passed some of this other stuff my standard screening process was to verify income 2.5x rent,   verify prior rental history or acceptable co-signer,   verify payment history of recurring bills (cell, utility, etc)   and verify no evictions or serious/recurring criminal history.   

Pick one card with the highest cash back %, use it to pay all monthly recurring and non recurring expenses (food, restaurants,gas, cable, electric- hell,everything you can) - then make one monthly payment of the balance; rinse and repeat.

And then there is this additional recurring expense called lot rent.

Trying to have recurring appointments set up, just a got a property in the Avondale area and I’m aware of rodents being pretty bad on the North Side as well as when my inspector went into my crawl space he noticed a few droppings.

My question is, what are you guys doing to set up automatic/recurring payments to ensure you don’t forget to send the check every month?

Enter recurring charges and automatic late fees.

A recurring service contract with a pest control company will accomplish that.

But they have lowered the recurring fees versus what they used to be and in your situation the tax savings may make it worth it.I also know of a California multifamily sponsor (with conservative leverage and multiple real estate cycle experience and no investor losses) who will do a 1031 exchange for no charge, but they do require $2 million minimum exhange in, to make it worthwhile for them to absorb all the legal costs.If you're interested, PM me and I can connect you to them.

Using this process, we are seeing initial returns between 0% and 1%, including all recurring expenses.

EXPENSESThe only recurring expenses the owners have are about $9,000/yr taxes and insurance, $400/mo in utility bills not paid by tenants, and $250/mo for office cleaning services.VALUE ADD OPPORTUNITIESMy surface analysis is that most, if not all of the rents are below market and could be bumped up 10% or more as part of signing new leases.