You also need to take into account if your competition is waving the security deposit for qualified applicants,charging a pet fee or not,paying for any water,sewer,trash for the tenant included in the rent,including appliances,or giving a rent credit on move in, and many other factors.Rent rates can look good until you see how many landlords you are competing with,quality of the product,and incentives given driving down the net rent before debt service and depreciation.

If another adult occupant moves in, you'll want to qualify them, screen them, and then put them on the lease, this, is a no-brainer.

And then there's the quality of the wanna-be-renters.

There are plenty of REO's out here but the quality is so bad you couldn't give them a way for free especially if they are wood frame.

I screen my tenants thoroughly, some know where i live and i have no problem with that.

If in your shoes, I'd consult with an attorney to find out how you can accept $1800 a month with the possibility of pursuing them for the difference later.As it pertains to future tenant screening, a general rule is 3Xrent for income.

Mary, If you type in Mobile Home in forums at the top of your screen some good stuff comes up.

Kiran - We took crappy code and transformed it into quality code.

Remember as an investor it is not the VOLUME and size of the deals you put together because many can be crap it is the QUALITY of the deals you do.I would rather spend a few months doing an awesome acquisition than buying up marginal to okay deals left and right.I have seen this happen on flips and long term holds.In both cases the investor did real well on one property and then started getting carried away.Pretty soon a couple of marginal deals starting to tank their long term portfolio into a neutral or negative position.Even on flips they made good on a few and then the next few went real bad and they were almost at square one again.You have to treat this business like a pawn shop.You will come across many sellers but few will accept your price and terms.So you have to keep going or come back to the seller until they get desperate enough to meet your terms.A classic tactic with a seller is when they will not accept your price and terms.Then a few months pass and they come back to you.Then if you have a couple deals on your plate you come from a position of power.You let them know you are involved with other projects now and to take this property on now you couldn't pay what you offered before and can now only do XX.There will always be another quality deal to be had but millions of marginal to okay deals to get stuck in for years and paralyze the growth and success of your real estate investment portfolio.

(this is usually NOT the best course of action)All the attorney will do is hire a collection company that has more bark than bite and rarely collects any money.The other option is to use a judgement recovery company.They usually pay the court costs and filing fees and then split 50/50 of whatever they recover.Sometimes they will buy the judgement outright for real cheap.In this case you get your cash right away and move on.Judgements depending on the smarts of the tenant can take 3 months to years to collect.Some tenants are judgement proof.This can happen when:1.The funds are retirement funds in a bank or social security where money can't be taken.2.The tenant works a job where their income is at a level where they cannot be garnished by Federal Law.Even when you can garnish you can only take 25% each time.If their are other judgements already garnishing then the 25% gets split up among the garnishments.85% of judgements never collect a dime because of the work involved.Even if the judgement company you employ chases the tenants for money the tenant may pay or they might just file BK if they have other debts.A chapter 7 costs thousands so it would depend on their other total debts and how much your judgement is for.This is why it is important to carefully screen tenants.They need to have good credit,a good job with long work history,etc. or something where you know you can collect if they default.If you have multiple tenants staying in one place and they all make minimum wage it will be hard to collect on them later versus one person showing great income.Hope it helps.