@Ray Jansma  Here is the verbiage we use on our applications.MULTIPLE APPLICATION NOTICE: In cases where we receive multiple applications for the same property, Standard of Practice 1-7 of the Indiana Realtor Code of Ethics dictates that we give all completed applications(including paperwork, background check, etc) to the owners of the property.

I kept a verbal journal on the trip (through iphone voice dictation) so once I get through editing that, I'll try to post some of my most poignant real estate travel observations.Anyways, cheers. 

Your price point will dictate your flexibility, ideal areas and potential for appreciation.

The market, or more importantly...the micro-market, dictates everything you do...from Rehab on.  

When and if you can charge a late fee on rent is partly dictated by state laws, so please check out your state's laws.

The term or period is generally 2 years and it is pretty much dictated by industry.

Do the incomes dictate more private payers or lower income type folks relying on medicade etc.?

I would check on the code for locations before I made that comment, as there may be codes dictating where they should/are required to be.Are these hardwired or battery smokes?

Bottom line, money dictates actions. 

In fact, in many states the law dictates that a residence cannot have a lease with more than 2 people per bedroom.