Each daily failure to pay such additional rent shall be a separate event of default.

We were told no problem if you have to take the house back for failure to pay insurance, payments etc.

Concepts are fine, but in the real world the details make the difference between success and failure!

It is not a easy as many seem to think to work at being a failure in life and yet instill th esame desire in their kids to grow up and work for the government like mom and dad.

Include a consequence for failure to comply.

Also reduces your Loan Qualification issue by a lot.Doing a Trailer will teach you the majority of your REI learning at a far lower entry point and potential failure result, while still learning REI.Are you PERFECT? 

Process to calculate failure.As your reading posts, watching podcasts, reading books, etc. you should be adding to the processes above.The more you add to your processes the smaller your failure or miss will be.  .   

Sorry for what you went through, but you already know, failure is a great teacher and you didn't even fail. 

It could even lead to failure in your real estate endeavors if you are not careful.

Many OOS investors set themselves up for failure because they don't invest the time to ACTUALLY understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.