When you tell them they will only get paid when the loan closes, they will disappear.If required, the only money you should ever send to the lender is for a credit check.

I just sat through a free webinar they put on and it was fairly informative for being free.

Those are people who have cash/credit and will lend to you if you have a good deal locked up. 

Interest rates and cap rates change, competition changes, your PM ends up being horrible, lots of variables.Just to throw you a monkey wrench, in your killer spreadsheet does it include the credit score, income, and employer of every resident? 

You would want to look for an owner that has a loan through a bank or credit union or one that has no mortgage. 

You need to have reserves in either cash or credit regardless of the situation. 20k can go away in a blink.

It sounds like you're trying to do right by your other tenants while also being fair to this one, but it’s clear the situation can’t continue.First, it’s great that you’ve already put quiet hours in place and handed out notices—smart move!

For example, if I do S/P top stocks, I could get around 11%. but if I did real estate and I have a 800 credit score - could I do real estate and make it work harder doing turn key Multifamily. 

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

One rental(two units) just finishing renovations and spent 15-20k of my own money so saving will be easier soon instead of loading my credit card then paying it all off every month.