What I mean by that is you have to realize at some point there will be bullet holes in your houses, and most likely you will need to learn the proper procedures for what to do when someone gets killed in one of your units.I've never had someone definitively get murdered, but I did have someone who was carried out of a unit on a stretcher. 

Always have a reserve because some surprise expense pops up with almost every property I purchase.The reason most Landlords fail is poor screening, no understanding of the law, and no policies or procedures in place to deal with problems swiftly, objectively, and in a business-like manner.

It is good to have a procedure in place to add or release people from a rental agreement.  

You still have regulations though so for something like this you may want to go to city hall and check out the different procedures and a few of the meetings.

Is that a known procedure, like you go to the lender and tell them I am about to buy this property and will you be cash-refi me.

Two months later, Oakwood passed an emergency order repealing the ordinance and replacing it with one that provides for an administrative warrant procedure.

That's reality...Leases protect you in regard to rules.... what can/cant be done, procedures, responsibilities etc etc..... but as far the $$,l if the tenant breaks them..... good luck seeing the $$Leases protect tenants WAY more than LL when it comes to the $$ part

MTR is even harder than LTR, so none of this is surprising.Hopefully you've learned enough DIY'ing to interview several PMC's and ask INSIGHTFUL questions about their processes & procedures - instead of only focusing on their fees.

However, my guiding principals are to lean in to automation, processes and procedures, and ultimately a passive investing time commitment.Emotional Bias: Emotional decision-making can be a significant challenge for self-directed investors.

Make sure whoever you hire has great written procedures and inspects the properties by yearly.