Debit is only bad if you use it wrong.

The Confession of Judgment states that they owe the full amount of money (past due rent, late fees, last 6 months of lease prepaid rent) even if they are evicted and aren't actually residents for the last 6 months of the lease. 

When I brought my first home I was making half as much as you, and my credit score went up when I pay off all my open/ended debits.

Pre-authorized debit. $0 fee and zero remembering to do anything.

, ask for mitigation - double security deposit and/or prepaid last month(s) rent.

Yes, you end up paying for this in the prorations and prepaids, but if the property is cash flowing then you get to carve out more longitudinal margin and build up a little extra cushion by collecting rents on the first of the subsequent month without the cash outflow of a PITI payment.2.

My credit is decent but I think I have more debit than credit.

My credit is decent but I think I have more debit than credit.

I'm a newbie in Michigan and property here requires, so far as I've been told, 13 months of prepaid taxes.

I renamed it Tenant Invoice Not Paid because it lets me see how much money is still owed to me at any given time.Make sure you choose Accounts Receivable in the Account ColumnMake sure you enter the rental amount in the Debit ColumnMake sure you type in the tenant's name in the name columnSecond Line type in the bank name or choose it from the list because we are going to backout the money that bounced.Make sure you choose the Credit Column and type in the rental amountMake sure you choose the tenants name in the name columnStep 2:  Billing your tenant for NSF fees and Late FeesBecause we did a journal entry for the rent that bounced, the old invoice, the original invoice is still outstanding and active.