If it means taking lease that was in place editing it to your standards then do that.Out of curiosity why parting ways with PM?

I believe interest accrues daily on mortgages, HELOCS and lines of credit so that may not be the best deciding factor.   

They dropped the price 15% so it peaked my curiosity and I looked at it.

Late fees will continue to accrue until the full rent is paid.

Out of curiosity, how big are the units?

Out of curiosity, when you find bed bugs or roaches, since they're both likely brought in by that tenant, do you remove the tenant or treat and see if it returns first? 

As I hone in on my numbers, I'm trying to figure out what I should be accruing for my fixed expenses (read, CapEx and Maintenance accruals).

Only calculated a rule after the fact out of curiosity. 

Make sure your son knows and understands the reality of what you do, how you do it and why, you will be pleasantly surprised with his curiosity, interest, and maybe input when you treat him like an intelligent being.

My experience with other EU countries (though not Italy specifically) is that unscrupulous tenants can take advantage of landlords for years of court battles, but the tenant's debt to the landlord continues to accrue, while the debt cannot be discharged and is taken seriously by the legal system.