Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

FYI I do have plenty of reserves for my other units already, but would like to keep each property separate.My question is, where should I draw funds from to pay the least amount in penalties, taxes, loan interest, etc. from the following sources I have available:- 20 year 401k loan for a property- Sell a piece of my stock portfolio at 15% capital gains tax- Take a HELOC against an existing property- Private money loan from a trusted partner I have worked with beforeAlternatively, I could pool the reserves for all my properties to ensure I can cover anything immediate and know that I could always sell off a piece of my stock portfolio if needed and have the funds within 3 business days or set up a HELOC and only draw from it if needed.Appreciate any thoughts or what you have done in the past.

My general contractor told me to charge her a $400/month pet fee for four months –which would allow me to save up $1,600 to cover damages- and then give her 30 days notice in May when it will be warmer and faster to fill a unit.

Maybe even offer to cover some closing costs to sweeten the deal if they’re stuck on a higher price.

The sale proceeds likely won't fully cover my loan.I have a few questions: What documents will I need to complete the buyout of the first lender?

You can use your own funds, use a HELOC or do a cash out refinance to cover the costs.

You would need to tap into what the market may draw because not all markets could support this type of guest avatar.You may be able to get just enough bookings to at least cover your monthly expenses by leaning into your listing and how you market the property.

I've met Lee Arnold and he's a wonderful person and has a proven track record of success, which is why we sought him out to be a cover feature in Realty411.

There are organizations that can provide the family with rental assistance; every municipality has one - and the assistance covers utilities as well. 

Which BTW most of our closings are subject-to the existing financing, so we have little cash into the deal, just the arears and the closing costs.You find NOD and pre-notice via;   realtytrac.com / equitydepot.net (if they cover your area).