Best approach is to have your "team" set, before going out to secure properties. 

I specialize In helping investors like yourself locate, and secure investment properties and provide a hands off experience along the way.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

While we've certainly goofed with some of our clients in the past, we try to prioritize providing clients with a great experience.

We have been fortunate to rarely hold any security funds from former tenants.

It isn't having paid off properties that offers security, there are still taxes, insurance, maintenance and management involved. 

Provided you are sticking to the letter and spirity of your rental agreement, you have to set boundaries People that get indignant over you setting boundaries are not worth worried about. 

One of them being you can't charge more than one month security deposit.

What strategies do you recommend for securing hard money loans for spec builds?

If you’re not well-versed in lease agreements, security deposit rules, or eviction procedures, you could run into trouble.❌ Emotional Stress – Handling tenant issues (especially late payments or evictions) can be stressful, especially if you live in the same building.Hiring a Property Manager in ChicagoPros of Hiring a Property Manager✅ Less Stress & Time Commitment – A property manager handles everything from finding tenants to collecting rent and coordinating repairs.