For example:Current rental unit: you collect $2500 in rent.

We have a judgement but since they closed their offices LLC that entered into the contract we have no way to collect.  

And typically long term rentals don't make it easy to include property management fees into the numbers and have them still work well.I would consider looking into STR type areas where you can avoid the risk of property damages (str and pm insurance covers almost everything that they might damage) and evictions/collections.   

Some people save money by collecting local seed. 

Being flexible in a way that still protects your investment can help build a better relationship.However, if they’re not responsive or don’t show good faith, you might need to take a more formal step, like issuing a notice to pay or quit.

I have a C-Corp (no assets) as the Prop Manager  to manage leasing and rental collection for all 4 LTRs.

Build 2 or 3, get them running, collect some cash-flow, and see how the business goes.

In a few of the states there is either a form. you must sign or an application that your escrow closer must file in order to exempt from any state taxes or withholdings that might normally be collected at sale . 

If so, then I would return the portion of the security deposit to the one leaving and collect that same amount from the one staying. 

I actually collected the differential of 7% interest on the $50,000 note (this was an interest only note - not amortized) for 18 years!.