In this scenario I personally as the PM would probably opt to not apply it towards the late fees since we didn't collect the rent, even if our PMA said we could, because I understand that sending an outstanding balance to collections has a low likelihood of success. 

After looking more into bankers code, private  lending and doing a lot of research, I came to realize that it is a job and not passive in any way.Don't get me wrong, I would love to do private lending but regulations makes it very difficult and time consuming.

My dad is a long time investor and I've picked a few things up from him, but the majority of my knowledge has come from consuming mass amounts of books, podcasts, and reading the forums here on BiggerPockets. 

@Karolina PowellYou need to find the commercial brokers in your market and opt in to all their lists.

It occurred to me that the reason I have not been able to find any research on this topic is probably because of this subjective nature and time consuming attribute of this weed out process.Without further ado, my findingsNew construction homes that were bought in 2017 increased in price by 28.3% when they were resold in 2022.

This results in an initial negative equity position that consumes the initial cash flow.  

Washington inherited two large estates; the first was the estate he got possession of when marrying Martha; however, unlike most husbands of that era he didn’t “consume” the ownership of Martha’s estate into his own; he operated it in a “trust” capacity for the benefit of Martha and her daughter by a previous marriage.  

I assume you’re going to make accounting, tax prep and certainly financing much more difficult, time consuming and expensive with the trust.

Days On Market (DOM) are trending up everywhere - suggest you find out the trend for Akron.It's now Fall - there's a decent in drop in all things real estate after Labor Day when they kids go back to school.Next drop is after Halloween when consumers go into Holiday mode.How often are you dropping your asking rent?

We got a lot more opt outs than with the competition and after the headache of getting up and running we just wanted out..They initially would not give us a refund but in the end they did.