There are a ton of CRMs out there but we use Zoho for its ease of customization and integrations.2.)

However, it comes with risks like higher complexity, cash flow pressures during vacancies, and interest rate exposure.

., you are capitalized at something like 250k and somehow got loans on the other 3.2-3.4MM For ease of the maths: If at the start you were to take your 200k and put down payments on 1MM worth of property (assuming zero closing costs, prepaid escrows, etc.)... you're tapped out. 

That way, ignoring the letter doesn't tank your deal, it makes the tenant in default, so you have some pressure. 

Hopefully Covid will ease up soon and we can finally get together at some meetups. 

I am a NJ PM owner and started using Baselane, as well, for its ease of setting up virtual accounts, transaction categorization, and overall organization. 

Just make sure to check their credentials and experience, and find someone who can explain things in simple terms.Also, keep an eye out for any red flags, like promises of huge refunds without a thorough review or pressure to pay a percentage of your refund.

@Sean Anthony to us, this situation is really no different than a nonpaying tenant.We try to work with tenants, as "life happens", while keeping pressure on them by moving forward with the eviction process.

Peer pressure from their friends works 1000x better than anything we say to them. 

They have stepped in to cover repairs for me, pressured mngt to do the same, introduced me to other PM teams that would perform better, shared multiple resources with me to assist with the sale of the properties and have spent ample time helping me strategize overall about what to do with these properties.