Know the lingo and the processes.2.

Seamless Project Execution – A well-run design process minimizes downtime.

Quote from @Jaren Taylor: Quote from @Chris Mason: If you have the ability to market and raise money, then you secure the down payment, and do the normal commercial mortgage process. 

You'll just add to your losses and still have the same mess to clean up.The process for abandoned property is to give written notice to the tenant at their last known address (your rental).

I would like to expand a bit and put some systems and processes in place and generally get a little more serious when it comes to the management side.In Brandon Turner's Book- The Book on Managing Rental Properties, in chapter 3 he talks about creating a company policy binder.

That said, sometime these clients don't want to deal with shopping the debt at all - and fully dedicate the debt brokerage process to us.

Start eviction process the moment you can.

@Anca R. and everyone, thanks for the shout out.To simplify the process the best I can, I'll address and break down each concern. 1.

.: I'm very new to this and would love to get your thoughts on this and are there any downsides to the process?

Depending on the fee schedule and activity this can cost significant transaction fees and always includes some red tape and extra processes to go through.