If it's a rental, you can structure the loan so that the monthly PI is lower than the rent income.

Also- helps to check-in/follow up and humanize yourself with the guest throughout the process from post-booking through their stay.

What are other questions we should discuss in advance.any advise, any sample document.Thanks look at 10 joint venture deals before you do one. talk to others in other markets. if he isn't smart enough to negotiate capital or JV deals or structured finance I wouldn't touch him. every cost should be fully transparent with their margin. similar structures with investors in columbus we are the general and everything is negotiable. he should also be qualified talk to a bank first. we take title in a single purpose entity we are the LP less than 20% and the qualifier and the main investor puts the cash and gets the loan, I'm also licensed and normally sell to out of state investors. 

Or send them multiple xx days to cure notices and if they dont comply then start the eviction process.

Real estate is a complex asset class due to the lengthy process of increasing supply.

You want to go through the above process.  

I am not familiar with the collection process in your county, but if it is like ours, you can start to collect in about 6 month's after judgement.  

I'd then repeat this process every 12-18 months until I had a reason to stop.Concurrently I'd be trying to increase my W-2, or 1099, income as much as possible, as soon as possible.

The accusation and actual wording play a major role in the process.

Quote from @Frank Barletta: Is 3% really that tough to give up for providing most of your guests, extra insurance, customer success, payment processing, communication, etc etc etc?