Definitelydon't want relationships to be strained because of this.

Now, after that, you have a need for some cash for whatever the reason - new roof, new heating system, vacation, new car, new TV - makes little difference why.So, in this environment of tightened lending, you're now going to have to BEG for a loan from some bank, and hope that they might consider giving you one.

While things have been tightening up in my market for the last year or so, I do not see anything to lead me to anticipate not being able to successfully flip.

Every time it happened, I tightened up my criteria and toughened up my screening.

Shop around until you find one with good terms as many banks are tightening the belts on these now due to COVID.Good luck and keep us posted!

And keep a close look at the stock market and tighten up those stop loss limits!

This will either let the tenants know that you are serious and they will pay you ASAP or you will be able to get them out faster and lose less money in rent.I would also suggest tightening up your screening standards since it sounds like these tenants have had money problems for a while and can’t afford your place but they got past your screening.

It might be worth paying a professional to lessen the strain on your friendship in the event they don't hold up their end.Good luck!

Opinion.... not necessary to do all this"There will be less newer market participants for the forseeable future because of high home prices, high interest rates, and tightening credit lending."

I am still only a couple years into my buy and hold investing, but am already learning lessons in what to look for and how to tighten up my criteria.