I had her sign an agreement of understanding that will be she will be financially responsible for additional charges that she may accrue.

So I waited in the living room area just out of curiosity.

I know this is a risk but it allowed him to catch up and I told him that if his late fees accrued more than 20% of security deposit he would have to pay them off immediately or terminate his lease.

I say we forgo the open house because everyone and their mom in our small-ish town will be traipsing through out of curiosity.

Having that extra 1/2 months rent that can be used to cover the late fees that are accruing is nice.Even if they pay the last months rent, one month security deposit doesn't go far with fixing damage.  

From there penalties start accruing.

Just out of curiosity, have you ever been guilty of PWI (Posting While Intoxicated) in the BiggerPockets forums?

It is hard for people to understand that vacancy, repairs, CAPEX and management are real expenses that need to be accrued for. 

Just in case you get a flare up of intellectual curiosity, please feel free to check out some projections from the CDC, NIH and the WHO.

OR B) a person saves for 2yrs and purchases via mortgage, 2 more years saving buys another and so on. 10 yr mark they are now purchasing property 5 and have various degrees of equity and appreciation accrued.