To add to what @Jonathan Greene wrote:1) Understanding the local market, so you know what Neighborhood Class your building is located in, what Class your Building is (condition & amenities), and what corresponding class of tenants will be attracted.2) Using all this data to properly set your expectations and a realistic ROI.3) How to better screen prospective tenants, including catching fraud, so your property performs better.

Typically HELOC lenders don't escrow since they're often set up to be in 2nd and rely on the first to check tax/ins more regularly.

Hola Adriana:) When buying property in a different state, it’s generally better to set up an LLC in the state where the property is located.

By establishing a set return of $600/year, there is no ability to adjust that number to future inflation.3 - Now, the big one. 

When I had my lawyer set up a few of my LLCs, I used my home residence as my LLC address.   

Happy to dive much deeper if you would like to set up a call. 

I am learning a lot from BP on how to set up a property management system to begin learning the proper way to structure a rental property portfolio. 

She can't afford rent, so you get her moved out by the end of the month, then apply her deposit to the unpaid rent, cleaning, and repairs.I may even incentivize her to leave quickly by offering to forgive the unpaid portion of rent if she gets out by the end of the month, but it really depends on a number of factors and I'm not going to ask for details.For future reference, best practice is to have set standards and adhere to them every time.

Whether that be setting up the team, finding the deals or the "boots on the ground" to bring the deal in.  

Set up a working line of credit.