Predictions are for fools; numbers are for performers.

My business partner and I own some STR's here that perform well and are in areas that will definitely appreciate in the near future.

If they’re late a third time, you have a strong case for eviction for habitual non-payment—without risking the tenant showing up at the 11th hour with the money.For your specific circumstances, with only a partial month behind, I would guess there is a decent chance they can come even on rent and it would be a waste of your time.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

From their point of view they're seeking three primary things:Access to capitalControl of their dealCost of capitalThey likely have a lot of the first two so the only motivation they'd have to accept your money into their deal is either the third bullet. 

To maximize its appeal, highlight rental performance, market it on investor-focused platforms, and consider selling before the academic year to attract buyers ready to capitalize on rental income.Good luck!

In my case, I have residential rentals in one LLC, commercial properties in another, self storage in a third, and my real estate company operates in a fourth.

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

However, you can get loans that are based on the performance of the rental and not your personal income and debt.

I have opportunity to buy a small portfolio of performing commercial notes with LTV's less than 50%.