Lastly, if the tenant does become delinquent and we have to file a claim with Rhino Insurance to collect their deposit, we're adding to the financial woes of that tenant and putting them into an even worse financial position when they wouldn't have qualified in the first place.Thoughts?

If tenants say they want new flooring, then we have to put in new flooring, even if damage was tenant caused.

Even if only one branch of gov is Dem controlled , such as legislative, executive or judicial, just stay away from those like bubonic plague.  

In that case I write off the lost rent as cost of doing business, but I prefer that to the expense and hassle of an eviction, which typically ends up costing us more and takes longer, even though Milwaukee is still pretty landlord-friendly.I have also done cash for keys, but typically very conditional. 

@Jake Baker Man, what a tough situation.It’s a real reminder that even with solid plans, even with checking out our numbers a thousand times sometimes completely unexpected disasters can hit hard and mess everything up.

@Matt Wan In the Boston area the inventory is so tight I'm not even sure there's "deals" in the off season.

So before you think about renting by the room, consider the questions above, and even more questions that can come up.  

People carry too much debt and even if the debt was forgiven or paid off, incomes don't match affordability. 

Powell even dwarfed what Helicopter Ben did in 2008.

Even if I were sued, I document everything and obey the law, so I won't be found guilty.