There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Open communication is key in maintaining a positive landlord-tenant relationship, and being transparent about potential changes can help avoid misunderstandings.

Is each tenant signing their own copy of the lease and you just maintain each one in a master file, or do they all have to sign the same copy? 

Keep in mind this doesn't account for rehab, repairs, and reserves necessary to maintain rentals.

Optimize your finances by reducing debt, boosting credit, and maintaining strong cash reserves.

To maintain my rates, I had to offer more than the competition, which also increased my costs.

One option is ServiceLink, which provides auction services and maintains listings for properties that have been foreclosed and are now available as REO properties.

I just maintained it, managed it myself and then sold it to the tenant.

One option you might try is to go to Bi- Weekly Payments, this way you collect on the same cycle as their paychecks.As long as both of your tenants still have their jobs, I would ride it out, the 2nd thing is how are they maintaining the property, are you going to have to spend thousands of dollars on repairs because of damage to the property.

Depending on these regulations, you might need to maintain a means of exit from the basement unit, such as a separate entrance to the outside, or ensure that the stairs remain accessible but secure.