However, I should note that this tenant has been late paying rent several times recently, which has added some strain to the landlord-tenant relationship.How would you approach this situation?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I’ve never asked anyone to “be my mentor”, but I feel like I have several now, because I just showed up, created friends, and asked questions. 

If heat goes out in the winter we drop off several units, so they can be placed in different parts of the house - including every room with water like kitchen and bathrooms.We also have dehumidifiers, carpet blowers, shop vacs, puddle-sucker pumps, extra hoses, extra sump pumps with battery pack, squeegees, and portable AC units ready to deploy. 

A water line burst in the 3rd floor ceiling and by the time I discovered it there were beautiful waterfalls from the ceiling on each floor and severeal inches of water in the basement.

I've heard from several people that Peter Conti is a scam as well. 

We have been working with Devon Kennard and helping him expand his portfolio over the last several years.

If we bite off people’s heads when they admit disaster, it suppresses legitimate issues with these techniques.Just for context there is a lot of history with the OP and some of us on here going back years (like the thread I linked to above from about a year ago and several others if you use the search function with his name) with him minimizing the risks of how he was structuring these transactions and some of us being cautionary, warning him that exactly what happened here could happen, which made him defensive and dismissive. 

Remember, you may be tied up in several houses with little cash, so it is important to think of all possible situations.Who is doing the accounting? 

Having read several books on the art of estimating over the years, I have found that most are good for a few tips that can help but for a newcomer to the rehab business can leave them on shaky ground.