On the first occasion, I leveraged it as an opportunity to move the tenants along, complete some rehab, rerent at market...

@Stuart Udis I'd love for you to post another reply or new thread on how to continue operating the LLC the way it was intended such as setting up the operating agreement, continued proper use of the LLC, and on what occasion it would be time to put your next property in the same LLC as your last property or form a new one.

Lots of moving parts...and it's wonderful to be able to start with a blank canvas and design exactly what you want to build (as opposed to retrofitting based on the restrictions of an existing older structure).  

I haven't used WI Legal Blank leases in quite a while but I know it's covered somewhere on there.

Our larger Nashville property - we cater to bachelorette parties and special occasions and IMO there is one MAIN reason we are booking up so fast in 2021 - a mural in our living room...

It only does this if you are doing many loans and can stand getting wiped out on occasion.

We also provide all of the letters that we send out as well with blank spaces to put your information in.This isn't rocket science! 

Bigger Pockets calculator asks the following:Purchase Price: 153,000closing costs 7650 (5%)20% down 30600Interest rate 6.5% 30 year loanRent $1330Property Taxes 451/yrInsurance 850/yrCapEx 5% ($66/month)Repairs 5% ($66/month)Vacancy 3% ($39/month)Management 8% ($106/month)Leave utilities blank assuming the tenant puts them in their name, BP calculator gives me 5.33% CoC ROI, which is better than what I originally did.

I've been thinking about teaching at the local base on occasion to spread the word. 

The first ledger showed blank months, but when I asked them to verify again, all rents were paid on time.