The income includes things like late fees, a rented garage, and utilities that are billed back to the tenant. 

Memphis is a hidden gem for real estate investing.

We also have a firm policy, always enforce late fees and deliver a notice to pay or vacate on the 6th.

@John BerjIf cash flow is a top priority, factor in HOA fees (common with new builds) and confirm rent comps to ensure the numbers work.

@Jacob HripWhen paying with cash, you have fewer closing costs (no lender fees) and fewer holding costs (no interest payments).

Normally, you would charge a cleaning fee (ex. $250), then refund them back the remaining.I don't understand why some people say you need a seperate account for every tenant, that's a bit ridiculous especially since banks normally require min balances, so you'll end up owing thousands to the bank everytime you pay back the tenant's security deposit.

People arguing such-and-such "Guru" is doing it and doing great, yeah, and how much is that "Guru" taking in student fee's per week/month?

Also depends on if you have strata/condo fees or HOA.The cash flow on my places are all over the place and yet I'm fine with all of the rentals for different reasons. 

Once I gave them the online option, however, and the bank didn't deliver one tenant's check causing a late fee, they've all used the online option.

My cost to Airbnb is better than VRBO and the same as direct (I pay a 3% merchant fee).