If there isn’t significant equity capture at this purchase price, and it’s not in a great location, this would be a pass for me.

If they’re late a third time, you have a strong case for eviction for habitual non-payment—without risking the tenant showing up at the 11th hour with the money.For your specific circumstances, with only a partial month behind, I would guess there is a decent chance they can come even on rent and it would be a waste of your time.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

What specifically are you looking for?

Feel free to reach out for any specific questions!

I’ve never had this specific issue but mistakes like this are pretty common. 

Typically starting with a smaller rehab budget of $50K or less (maybe a max of $75K) and avoiding a 1 to 1(or higher) ratio of purchase to rehab costs is recommend when you are first starting out. 

Have you taken the time to search AirBNB and VRBO in those specific areas to see how many STRs are operating?

Hi Kmsuea, it all depends on your commitment to actively looking for and purchasing a property. 

Have you considered specific local market conditions?