For commercial residential bank loans

Ideally we could buy this multi-family in late 2018/early 2019.

So lets say I might be a little late on locking a deal in the next month.

Income includes rents and late fees.

Mistakes are one thing, but consistent mistakes are another.Speaking from experience, it is much more likely to make a mistake if tax documents and other info are handed in haphazardly and late.

Any late payment fees (if a tenant pays rent late and we have to chase it down) are split 50/50 with the investor - you get 50% because it's your property, we get 50% because we do the work of making sure you get paid.All that being said, of course we make money!

What I learned when I bought: (1) I had mice; (2) lease violated almost every law in Ohio; (3) rent was not "late" until the 15th of the month; (4) gutters were installed wrong and front porch roof was damaged; and (5) the bottom tenants decided they didn't like the house and were not going to pay rent. 

After we finished the rehab, we had her back over and she absolutely loved the transformation.

I think the whole envelope, stamps, writing a check thing is 90% of the problem as to why they pay late when they do.

As the first is planned to be completely finished by February (I am doing most work myself), is my thinking process flawed..bare with me.I am wanting to refi my first duplex purchase asap, I can do it after 6 months there was no seasoning on the original mortgage.