On the other hand, if they are a "bad" tenant who is willing and able to prepay, then you have the exact same situation as if you had a "bad" tenant who paid on the 1st like clockwork: your other good tenants may still want to move away just as in the other scenario, and crossing your fingers and hoping they suddenly forget the rent one month won't change the outcome one bit - but your well-drafted leasing agreement gives you recourse for those specific situations.Fortunately for the original poster, it appears she has already made an easy decision, and has declared that it's not a good fit for her due to other reasons, so it's become unnecessary to give her additional specific advice on the matter.

On the properties I have purchased, renovated and flipped to date, I have NOT bought "Vacant Dwelling" insurance. This was a huge oversight because I have funded everything with cash on hand and could have suffered a ...

Fingers crossed.

I can access all of this info, but I don't have to lift a finger to actually do any of the screening.

And the buyer better cross his fingers since the rehab is cosmetic.

Fingers crossed.

We go with one contractor so if there is water damage we don't get in a finger pointing match.

<<fingers crossed>>  Just have to do some prep to make my argument rock-solid and easy to understand from the magistrate's point of view.

Well, if you and your wife are the only principles, it won't take long for an attorney to link the LLC back to you and figure out some loopholes to get their fingers on your assets.Another reason for a LLC is to reduce buyer/renter liability caused by a lawsuit.

I gave them the finger because my deal was too good and they were too greedy.I would put away a 5% of purchase price reserve fund.