Do STR and LTR the question is the order based on your life circumstances at the time.

That is a very unique situation that no other contractor would ever offer you, so IMO, given your circumstances (assuming you are able and qualified financially and won’t be house poor) I would take your buddy up on the multi construction seminar.

Yes, there have been some delays due to extraordinary circumstances but overall, the wire comes in on the 1st- 5th every month.

Ultimately, I sold the property for about break-even because of personal circumstances that changed in my life.

All your points are valid in any circumstance so I appreciate the information.

Hey Ryan,First off, I do recommend sitting down with a tax professional so that they can understand your specific set of facts and circumstances. 

I agree with Colin, everyone's circumstances are a little different and while I would take feedback from non-CPA I would only trust a CPA with questions that are that delicate.

As Greg said, as soon as they owe you money, file notice to quit and any rent that comes in after that is put towards the monies owed first.Under no circumstances would I extend or renew their lease. 

While a deposit is almost always preferable, you should make a common sense business decision based on the circumstances and condition of the property, in my opinion.

Looks like more complicated circumstance than I expected.