Pro -  You have no mortgage obligation every month so there is no need to freak out every month  a tenant is late with the rent.Pro - You have no mortgage obligation every month so there you don't feel pressured to rush to fill a vacancy with an unsuitable tenant.Con - You have no mortgage obligation every month so there is less of a tax write off and you are more likely to pay more taxes on your rental income.

Foreclosure, bankruptcy and late payments on credit report are acceptable.4.

Lately ive been wanting to learn more about developing and building residential and multifamily properties.

So update, the duplex has been finished for a month and both units are rented out.  

My husband and I got wrapped up in a renovation project and we were working late all weekend. 

The property is worth 270k + and 3 bathrooms are in the process of being remodeled(the owner may only finish one).

I accepted the partial payment on the 8th of April (which was already late)and he agreed to pay the rest on the 17th of April.

We plan on holding another meeting on Wednesday 8/8 beginning at 6:30 PM (same location) however if you are running late, no need to worry as we pretty much get going closer to 7. 

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.

Don't wait until the tenant is 20 days late on rent before trying to figure out how to handle it.