It's great to be prepared and have your duck in a row but we don't even start discussing eviction until they are at least a month late or behind by 1.5 months of rent. 25% of the time tenants are going to be late and about 10% are going to be late consistently.

We communicate with the tenants or have the property mgmt company communicate with the tenants throughout.

There are several other issues (undisclosed maintenance markup fees, excessive charges to our account, significant reductions to agreed rent without communication, etc).

It is zoned single family but since the previous owner is using it as a rooming house a few things look different that I am worried about the appraiser not passing:Outside doors for each room with locks.The only common area is the kitchen, no dining room, living room, etc.The rooms consist of 5 bedrooms, 1 kitchen, and 2 bathrooms.Each room has a bed and a small drawer which I am thinking of diassembling before the appraiser comes.Would I have a problem with this?

About 3 months have gone by and we just received an email from a communications company billing us $4,000 for breaking a communication line buried in the yard.

Good to hear there’s consistency over time.

I use the software for my portfolio that consists of MTRs, STRs, and I have a property I rent MTR but by the room.

Let's say you bought a property for $350k, consisting of $275k building and $75k land.

Sellers who are in financial distress or dealing with a property in poor condition might be more open to this type of arrangement if it helps them get back on their feet.The key to making this work is transparency and clear communication.

Communication is key and transparency is something call centers do not offer.If you ever have any questions or want to network feel free to reach out or send me an email.