The borowwer would have to tell you either thier period of service of thier beginning entitlement.

You should line through the dollar amount so it reads like this:"...Tenant shall pay a late fee of $0 or 5% of the periodic rent."

With new law I feel there are flaws with our lease structure with the 30 day renewal period.   

I’ve had this happen in a similar market propped up by foreign investors and tourism (Costa Rica) and luckily was able to wait out the down turn but there can be long periods of time in this type of market where properties just aren’t selling at all even at a steep discount.

The challenge that many borrowers run into when looking for larger equity lines with limits  of $250k+ is that they typically require full income verification (not always bank statement and DSCR exist) with lower DTI ratios (43-50%) however although the repayment scheduled is based off a simple interest only payment, (usually a 30 year amortization schedule with the initial draw period of 5-10 years) the qualifying rate is based off of the converted twenty year amortization schedule (240 equal installments) of the payback period.

Purchasing a non-performing note can provide above average returns in a relatively short period of time, therefore providing the capital to purchase more non-performing notes and "churning" the funds.

The only periods when US real estate can beat US stocks is when money is free or close like it's been in the 15 years following the Great Recession.

And I have had an out of state rental property taxes increase 50% over a 1 year period!

(It comes with 1-2 years and many credit cards double it for free.)The ONLY time I buy appliance extended warranties is when buying clearance items. 

Would be super simple if it is set up like a stock where you can buy in and sell off as needed to effectively spread the gain over a period of tax years.