I am left feeling that working with them was a wasted investment and decided to cut my losses and move on.

I wish I could pull something off like that... basically, its a fee to make sure you don't waste the lenders/broker's time.

They don't understand how to price effectively, study the market, set boundaries with tenants, establish policies and procedures, communicate, and dozens of other things.

https://www.biggerpockets.com/forums/93/topics/1224328-new-l...here is a thread I just did on Oregons new law that takes effect July 1 2025.

Which will also depend on the neighborhood.You want to, "rehab/maintain to the Neighborhood".Most investors go overboard on their first rehab and waste a decent amount of money.

You can try small claims court, but nothing is enforceable, so it is mostly a waste of your time...and some of the problematic tenants know this.I agree with Jill, if they do make payments, take cash or money orders-no cheques.

If you pay cash, you don't have a payment, but effectively you are giving up an income stream if the cash had been in a bond or ETF and earning you either interest or appreciation. 

If you do the math, since your borrower is paying interest on interest, it raises your effective interest rate by about a point.

- You've got to go to the property for showing- Many do not show up, so you waste your time- Then you have to have a legally compliant rental application & lease- Some approved applicants disappear the day before or day of lease signing!

Should I make an offer with the qualification that all furnishings, dishes, pots, and pans stay, except for "personal" effects?