Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.

It's a great starter book for the financial foundations of real estate investing: https://store.biggerpockets.com/products/set-for-life-revise...I would also recommend Small and Mighty by Chad Carson: https://store.biggerpockets.com/products/small-and-mighty-re...Real Estate Rookie: https://store.biggerpockets.com/products/real-estate-rookieHouse Hacking: https://store.biggerpockets.com/products/the-house-hacking-s...

Including setting up an LLC taxed as a partnership. 

I've set a goal to have something locked in within the next 3 months!

https://air.tl/5cmk2bQaPricelabs has a nice feature where I can set the distance or draw the properies to include for determining the market.  

If he's dragging his feet, it might be time to set a deadline for his answer and line up other options to avoid last-minute stress.

When prices go up as you move into better neighborhoods and/or more expensive markets, it will get tougher to exceed 1%.As others have mentioned, this is a good rule of thumb, but you have to run a full set of numbers to understand you potential ROI on a deal.

Buying an investment property in Las Vegas @Josh Salapare could be a smart move, especially if you’re set on moving there in a couple of years.

Only two payments I did not have to send a reminder and it was never set up for ACH although I have asked several times.

 You may be able to secure higher leverage financing through alternative lenders than a traditional bank (not always the case) and this may help advance your objective of reducing the down payment/cash requirement but that may only be temporary relief as you will likely pay more over the course of the loan because of higher rates and fees.