The key is to build your real estate business around your strengths.Depending on your risk tolerance and cash available, scaling to 12 properties your first year is completely doable.

What is your tolerance to risk?

However, it depends on your tolerance level of constantly receiving late payments.

I'd need to know more about you and your goals, risk tolerance, etc. in order to provide specific guidance. 

Personally it wouldn't get me too excited but again, thats just because of my investment objectives and risk tolerances. 

Yes, always insist on full payment.And if they are a good tenant otherwise and always pay on the 14th for instance, you could consider just changing your due date :-)Make it clear though, that after that you will not tolerate any late payments ever again.

Your answer really depends on your goals, where you are in life (proximity to retirement) and risk tolerance.

“What am I believing about my capacity to tolerate the present moment?”

I hope to get at least 10% ROI, which in during my research seems like the lower end in this market, depending on the project and the borrower im thinking 60% LTV would be the edge of my risk tolerance.

Thats like a super-average neighboyhood.What you get is all driven by access to capital, risk tolerance etc.I don't do the $10K Detroit house game, some people do though successfully.