He is now charging 260$ of my deposit for the late notice.

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

They basically qualify you for a loan based on the income deposits into your bank statement (so still can’t work magic if you have some sort of pure cash business).Hope that helps.

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

Morgage account, deposits, monthly rents?

.- 1 High Yield Savings (Business): Majority of CoC return deposited for funding future business acquisitions (earn some interest while building funds). - 1 High Yield Savings: for deposits (pay tenants required interest and transfer rest to Business Savings account.- Personal Checking: Drawing funds, receiving refunds for business purchases, add funds to business account if needed.I made a terrible drawing to help as a visual aid.

Always do a background/credit check, call their last two landlords, collect a security deposit, have a formal lease, call their employer to verify income and to get an idea of how they perform at work and be extremely clear in your standards.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

@Anthony WickAwesome thanks for the advice.I typically require, first last and 1 months deposit.

Its 2020, this system feels like from 1980, and I keep trying to figure out why he wouldn't set it up on an automated platform where you don't have to be depositing 34 checks every month, and messaging numerous tenants to remind them their payment is due.