Cut your losses the first time they miss a payment and start the eviction process.

If the tenant refuses to cooperate, begin the eviction process.

@Anca R. and everyone, thanks for the shout out.To simplify the process the best I can, I'll address and break down each concern. 1.

We are new so funds are very limited, is there a process you guys use to make sure legalities are set up right, and can they charge on the close of the deal?

That being said, I had competing issues. 1) my wife and I are buying a new primary residence (much to my chagrin), and 2) in december, we bought a condo rental that is currently being renovated (a much lighter project) and that process is also a little stressful.   

They usually have a process for filing a claim with the city for damage caused by them, and they may be willing to cover it.

They provided registered address and limited mail forwarding for free and the process was fast and efficient.

If you're still in the process of identifying and connecting with a QI, I'd be happy to provide a referral if you're interested. 

If so you could pull equity out to begin the BRRRR process.

I'm still in the process of growing my portfolio, but have heard others 1031 all their smaller properties into a larger building and have a property management company manage, OR, set up a seller financing deal with another buyer that gives you the cash flow you desire.