In addition, all Rent payments hereunder not made within five (5) days of the due date shall bear interest at the rate of one and one-half percent (1-1/2%) per month"The monthly rent is $1550 so the late fee is easy - I've set the account to charge 5% if the rent isn't received within the 10 days stated ($77.50).

Expect to see more brokerages reduce their fees for listing real estate as they move towards fee models that not only recognizes but accounts for the role technology plays.

@Nicole GrazianoI recommend that you have a consultation with a real estate tax accountant regarding your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

Daniel,If its something you really like from all accounts, get with an inspector and property manager to give their thoughts on the area, condition of the property etc...

And if you do upgrade, you get an additional $50 in your wallet.To get access to these benefits, you will have to link your BP Pro account to your Invelo account.

She has some stock (maybe 50k), some retirement IRA of around 100k which I believe she has started to take and then maybe 20k in her savings account.

How have they accounted for reserves / contingency when things don't go as planned. 

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

•Set up your EIN and operating agreement.2.Set Up Your Business Bank Accounts:•Open 3–5 business bank accounts to give your money purpose:•Income Account: For revenue and deposits.

This account stayed at the same number for years but I didn’t really think about it.