While that can be helpful, there are still tons of people I know of that hate the idea of taking the Skyway to work and paying that toll every day, all while having to deal with traffic.

Some folks will argue properties are typically taxed less than their fair market value, and that may be true, but it's the amount of annual taxes your pay (regardless of actual value or assessment) that will affect your bottom line.Additionally, until the recent market correction both property values and rents have increased at a rapid rate.

This deal was intriguing because it was rent ready as-is, but I knew that when we could afford it, the rehab would really pay off.

I only know about the times where this was found out prior to closing, obviously I have no way to know about the times this shady behavior wasn't found out.Since you get a vote in who this tenant is, and it's retail, PSA that commercial lenders (especially the ones offering the best terms...) are starting to vet deals by how 'recession proof' the tenants are, even if they are currently paying on time.

Best advice with contractors is always warranty, insurance, pay with card(if theres a 3% fee so what) and no large deposits.

She normally pays rent on time except for the last couple of months when she paid a few days late with late fees.  

I used to pay a site visit to every property of which we were considering lending or purchasing an existing note.

The LLC business account pays the bills.

I think this often getns overlooked but I can't tell you how essential this is for all the little things that you don't want to have to pay your cleaners or handyperson for.

That's less that what my father is paying on policies in Florida for a $400k home not anywhere near the ocean.