More tenants only need a 2 bedroom than a 3 bedroom and are not willing to pay an extra $500-600 for the 3rd bedroom.  

Also charging them a 50$ late fee (if it takes them more then 7 days to pay) im thinking maybe I tell them they need to start paying on the first and kinda frame it like a warning?

Think of all the things that can go wrong and you want a way to remediate it in the JV agreement. we did this once and the partner never started the work after a year so we deemed the note in default and were going to take back the property but they ended up selling another property to pay us off.

However, the tenants will be paying that PMI so it’s still better than not buying.

Tenant doesn’t pay their rent…unpredictable cash flow.

Trying to find something that pays well where the work is easy for you.

BONUS TIP: I just read on a listing that I'm going to adapt: Include in tenants lease they must pay for PSE&G Worry Free service.

Students pay between 500-800 per room in general. 

We will sell some of the lessor houses in the future and pay off some others.  

. - Call every 2-3 days to get project updates - Pay for materials with your lowes pro business credit card over the phone - Ask contractor for itemized list of things that needed to be doneThe above will ensure your sucess.