Today I had a heater issue and snow company that was late handling commercial before residential so we ended up clearing it.Open to each option.

I did like some features of Avail as far as using it for developing the lease and collecting rent but that left me with too many other functions I had to handle elsewhere.

The least states:"Tenant shall pay a "late charge" not in excess of five (5%) percent of the amount in arrears for each month the arrears remain unpaid if any Rent is paid more than ten (10) days after the due date thereof, to cover the extra expense involved in handling delinquent payments.

@Kris Lou Be careful with agents as 95%+ of them really only know how to handle owner-occupied transactions.We don't do biz in Indianapolis, so this is unbiased info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The Fannie and Freddie programs handle this issue slightly differently.

If you're a PM, how would you handle this owner?

In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

You should consult a real estate attorney or tax advisor to handle the legal and procedural details.From a tax perspective, there are several implications.

There are a few ways you can handle the renovation which all comes to personal preference.

I’ve had my share of challenging deals too— but the payout made it all worth it.Curious - would you handle the cash-for-keys offer differently next time, or was riding it out the best call?