Cash is cash, but a tenant that "promises" to make good is STILL a tenant, and now you are subject to all applicable Landlord/Tenant laws, including the typically lengthy and costly eviction process.

I've heard of ListingBook but have not explored it at any length. I

Legal fees.Accounting fees.Lost rent due to a lengthy eviction.Tenant damage above the security deposit.Utilities, at least when its vacant.Capital items (e.g., appliances, carpets, furnaces, roofs, etc.)Speaking of carpets, new carpets every 3-5 years.Property management.Make ready costs.

Nothing worse is a good relationship gone south because of a poorly executed business venture.http://www.biggerpockets.com/forums/223/topics/110123-long-overdue-success-story---bp-partnership

After a fairly lengthy process, they got the bill from the tax attorney.

you bring up a good point Jeff, but that limit I believe you mention is part of HOEPA (home ownership equity protection act) and I believe its only for owner occupied or financing charged to owner occupied.These NMLS classes we take are pretty lengthy and I could be wrong.

As @Dan C. mentioned, I use a lot of photos (10+ per unit) and a very lengthy description that explains all of the things that a potential renter may want to know - both good and bad.

Unfortunately, I won't be able to give you details on the timing, but owner-occupied residences can be lengthy and potentially expensive..

If you don't do that, you'll get someone in on the 25th who pays you a weeks rent and the forces you through a lengthy eviction.

Thank you guys for taking the time to read my lengthy intro haha