For example, failing to file a Business of Information (BOI) report correctly can result in penalties of $500 per day or even up to one year in jail if the filing is late.2.LegalZoom or Similar Services:LegalZoom can help create an LLC for about $600.

Sorry for the late response.

I've also been looking at Rochester lately as a place where the RTP is a bit better than in many other markets.

I hope I'm not too late to the party, but I'm currently working on a documentary on the "Mobile Home Queen" and her accomplices.

I start with cleaning and repairs, then I apply it towards utilities, legal fees, late fees, and rent, usually in that order.I also have a holdover clause that says the tenant is charged 4x of the monthly rent, prorated daily if they hold onto the property after lease termination.

.* A notice of default is not a letter sent by a creditor saying they are late.

Quote from @Seth Timmerman: Quote from @Elwin Green: Hi, all...Half a lifetime ago, in the late 80s and early 90s, I took a run at real estate investing.

Quote from @Joshua Herrera: Good afternoon Bigger Pockets Community!

Income Late fee Gross rent Expenses Advertising Cleaning Gardening/lawn mowing Insurance Interest on loan(s) property tax Legal expenses Pest control Property agent fees/commission Repairs and maintenance Water charges Electric Bill Total expenses Net rental income or (loss)

., etc.The other side of the coin is he also missed the .com bubble burst in the late 80's.I tend to feel the same way...if you're going to invest, then invest in something you know.