Here’s a breakdown of the key elements you should include in your subcontractor agreement:Subcontractor’s Information:Full legal name of the subcontractor or company.Contact details (address, phone, email, etc.).Project Information:Internal Project ID or Purchase Order Number (if applicable).Project address.Clear identification of the specific scope they’re responsible for (e.g., electrical, plumbing).Project Timeline:Start Date: For the portion of work they are completing.Completion Date: Set realistic deadlines for their tasks, adjusted to your overall project schedule.Liquidated Damages:Specify a daily amount to be deducted from their final payment if they fail to meet deadlines (with exceptions for factors beyond their control, like severe weather).

Most attention has been directed towards buyers and buyer agency in response to the agreed upon settlement which introduces the possibility of fee shifting depending on whether a cooperating fee is offered.

Some others have had communication problems, but I've always been able to get a same-day response. 

Thank you all for your responses.

Avoid any self-help eviction tactics like changing locks.Maintenance: As a landlord, you’re responsible for ensuring the property meets basic health and safety standards, including working plumbing, heating, and electrical systems.Inspections: While there are no mandatory inspections required before renting, your property should comply with building codes.

The city board of adjustment meeting was held today and we presented our case and explained that we made huge investments into the home to remodel and furnish it with the belief that we would be able to operate it as an STR since we had an approved permit.The Board denied my request and did not take any responsibility. 

Tax and Legal ConsiderationsUnderstand the tax implications and legal responsibilities associated with rental income.

Becoming a property owner.The hardest part about this right now is underwriting deals, remaining patient and disciplined.Outside of that, the actual details of managing the property are only hard if you do not have systems in place, delegate responsibility, and don't fully comprehend what physical asset investments require-- capex & opex heavy.

I don't think one will make money on a net-net basis over the long term.I had asked the same question to local and foreign buyers agent in japan and had vague responses from them as they know the reality.The opportunity lies in the foreclosed property in Japan.

One symptom is leases that have not been renewed or increased in years, but you also find a lot of deferred maintenance.I do a survey about rent increases with our RPA members every year here in Milwaukee and most of them have between 5 and 50 units.