Women are almost as guilty of gender-bias as men, as your post illustrates.  

He was illustrating, correctly by the way, how a federal court would view your questioning of the prospective tenant. 

Hi Tamara -That schedule was an illustrative example of not having to choose between one niche to find leads on properties, aligned with the old adage "he who casts the widest net catches the most fish."

Quick illustration below:$30mm purchase at 3% cap NOI = $900,000 (30,000,000 / .03)Value at a 4% cap = $22,500,000 (900,000 / .04)Loss of $7.5mm based on a one percent cap rate rise.My advice for multifamily investors is to look at other asset classes.

@Chris MayYour spreadsheet only illustrates that you are missing the point of how the HELOC strategy works since you use the same number as your payment each month. 

To illustrate this point, you can look at Trulia affordability maps: http://www.trulia.com/local/los-angeles-ca/type:rental_prices_affordability.

@Marcia Maynard Thank-you for that ... more eloquent and thorough than my prior attempt.The reason for mentioning the children of our tenants and the rate at which they become proficient in English or French was to illustrate that non-English speaking tenants quite likely will not remain non-English speaking tenants. 

Ihe OnwukaThe point I was trying to illustrate is that a late fee base on percentage of rent - as others have indicated in this thread - is not materially different than then our flat fee capped by bank NSF/dishonoured payment charges.  

And, based on my training and education as an attorney, and experience as a civil litigator, I respectfully disagree based on my readings of a combination of Legal Ethics Opinions and the Professional Rules of Conduct.I would suggest you re-read my post to you, as I tried to make it clear that I was giving examples as opposed to direct illustrations of what you are doing which would violate the rules of ethics.

The sublease issue and the property condition issues illustrate why long distance land lording can be problematic.