mentality is all wrong. 

Hi everyone,I recently searched the forums for something like this that can be used as a mental "aid" for new investors to understand the steps that need to be taken before, during, and after purchasing a short-term rental.

Their clients are mostly folks who can't mentally fend for themselves, but are still physically capable of many things (they can bathe, feed and dress themselves; but can't shop, administer their meds or cook for themselves).

Furthermore, the behavior is causing me mental, physical, and financial stress.

As landlords, we can adopt the same mindset, valuing our tenants and providing exceptional service.While many landlords might delegate the task to property management companies, which often prioritize cost-cutting and minimal service, I take a different approach.

., and prioritize better areas which will be a negative cash flow today unless you go all cash.True passivity is hard.

Deliberately have a few challenges in your screening process - it will weed out "entitlement mentality" problems4) Allow payment plans, but create system to track when payments due, so they don't keep falling further behind You will need to call them on due dates or they will fall further behind Be prepared to give a strong NO when asked if you will change rent due dates to "make it easier" for tenants to pay rent based upon their SSI or paycheck dates.

That being said, you'll need to prioritize the work you'll be doing and make use of the comps in your area to thoroughly understand your target market in order to do so. 

I would say prioritize growth over payout because the more you have the safer you can realistically get 100L in ten years. 

That is a mental block I need to get past, my inclination is to demo the whole house and build a pristine new home, but of course that is a lot lower return than rehabbing a property to the point of just "good enough" and moving on.