Hi gang.  Just starting out and have done about a dozen property analyses using the Rental Calculator tool. The BP calculator lets you save the results which is great, and I know you can set Reminders.  But now that I...

Be ready to start eviction procedures as soon lawfully possible if rent is late.

If so you could consult a local lawyer to find out the procedures for eviction in your town.

BTW, I do receive zoning board meeting notices from the town when neighbors file for variances, so you can't do it in secret.I don't know the procedures and politics in your area, but I described what will happen where I am.BTW checking who are family members is not a violation.

They must be very qualified, licensed, insured, bonded, good with documents and a very procedural bank.

Hiring people, procedures, systems, etc.

Established banks also have processes and procedures to follow when things go sideways.

What are some procedures/ steps that you've found useful?

As a banker this is risk we talk about all the time, it doesnt' matter when you have 4-5 units, or even 10 maybe, but as your net worth increases and the percentage of it is concentrated into one industry, one asset, and one location, that's risky. 4. inefficiency in procedure.

this house I'm looking at has been going through chapter 13 procedures for the last 5 years (yeah these people dragging out the inevitable).