What if I want to raise the older tenants up a little bit in the future?

@Tyler SmithWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

If the money in that account isn't large enough to cover the cost and the second person can pay a larger share, then pay for the repair and first person's future profits are used to pay back the extra with interest as if it was a short term bank loan.

@Maria Teslik, the podcast with Dave van Horn was interesting and it is one I plan on re-listening to in the future.

This would give me some freedom in future deals in addition to cash reserves.

The only reason I tend to lean towards tiny houses or like wise is to cover the basis of possible movement of the course in the future.

I currently have a full time job as a Sales manager for residential Solar and I want to build a RE portfolio on the side and build a second source of income and, possibly in the future take RE full time.     

Good luck with all your future REI ventures!

At the same time you can inform the tenant that their lease is in full effect and if they refuse to pay you will begin a formal eviction, which will tarnish their ability to rent in the future.

His perspective is a great reminder that life can be short, and we don't know what the future looks like.