Plus, legally, if you start accepting late rent, it can be perceived by the court that you have waived your right to requiring the rent on time.Also, if your lease doesn't already include it, it should say that accepting late rent does not waive your right to demand rent on time in the future (although this is questionable as to whether or not the court would still think you waived this clause), and you should consider adding a daily amount after the initial $25, so it keeps compounding up to a limit.I used a Nolo Press contract for California, and it included a cap on the late fee of something like $250. 

However there is no way to put a cap on those types of fees.

Greetings everyone, TL;DR Newbie from San Diego with 50k liquid, 50k potential 401k loan saved up looking for a cap rate 10%+ property in Indianopolis/Grand Rapids.

From what I've read about the Ca. multifamily market that sounds unrealistic for a cap rate , but, maybe it's different for the central valley.

It still will not be the best way to figure the value on a 1-4 unit building.For a commercial property the value is either from the NOI or it is from a change of use.In many ways then we are saying the same thing except for the idea that a CAP rate has much meaning when dealing with a 4 unit or smaller building.Lets focus on ideas for the deal.1.

But looking into some detail and we found that the appraiser had forced a $30K "management fee" into our NOI and now we only have $120K NOI.Also the appraiser got a cap rate survey from a company in Florida.

I thought the EIDLs had a cap?

Right now the HELOC is 4.4% with a cap of 18% and minimum payment of 1% of the total balance.

So i see a lot of people ask what to use when estimating a vacancy rate or a cap expense rate.

My goals are conservative, Buy and Holds with a cap above 7%.