For a SIMPLIFIED example, imagine value was $300K upon purchase, $400K upon conversion, and $500K now. 

In NY, the Marshall imposes a collection fee charged to the creditor of, as I recall, 10%The above appears to be a simplified  explanation.

This is very simplified version of the calculation but for ease:$40,000x.04=$1,600.

Try this simplified model:Pay cash for a $100K property that rents for $1000 per month.  

They decided to move out early, so that simplified things for me.

Government still doesn't think hard enough, simplify!

Lets me know when the draft is made and when it will hit the account.It incentivizes electronic payment for the tenant by making it easy and allowing it to be reported to a credit agency.It incentivizes electronic payment for the landlord by doing it for free.It throws my nice ad up on realtor.com and doorsteps and allows for online application.It listens to its users- go back through old threads and look at some of the gripes ("I can't tell who is paying the rent when it hits my account.") and you will see them actively addressing each issue.It does a lot more: credit check, rent analysis, express pay, simplified renters insurance.I give them my background checks as a small thank you.

The filings I have done were, Summons in Forcible Entry and Unlawful Detainer,  Complaint in Forcible Entry and Detainer, Notice of Demand for Rent or Possession-completed and posted 4 days prior to filing, and Answer Under Simplified Civil Procedure. 

Using your apartment example and adding these assumptions: -security deposit equals rent-Invest the funds in a bond fund earning 4-5% simple interest (Simplified for the sake of argument and ignoring the massive bond sell off due to inflation concerns going on right now.)This yields a $12-15k increase in cashflow, which for this property that has a $2.16M NOI, is around a 1% increase.

Go with digital locks - simplify your life.