Both units are currently rented to families (extended families to be more precise).  

If the tenant wishes not to utilize electronic payments, then tenants must deposit rent by the (DATE) at BANK into ACCOUNT, etc"I don't think it needs to be formal, just clear and precise.

And what makes you the success that you are is precisely the fact that having figured the numbers out, you can now do them in your head while conversing with partners on the phone. 

And the reason I didn't jump on @Joe Moore 's "testosterone" bandwagon was precisely because we aren't all guys here :)  I must say, however, that his bandwagon sounded about right to me...

Welcome to BP @Billy Maloney My wife and I met and got married in Boston (Waltham more precisely) and we also got our start in real estate there.

If so, i can be more precise.

Hi @Arthur Zaragoza - we live & invest in Kansas City using precisely the model you describe.  70 to 75% LTV is what you will see for investment properties, and we have found banks that will do loans for as little as 50k (would probably need to appraise for at least 72k).  

Of course this is precisely when Joe 'Murican decides to jump in and leverage his IRA 200% into whatever is "hot".

This is precisely why my husband and I left the market and returned to our hometown of Chicago.

To be more precise, the contract itself.