I wrote the above for informational purposes.

I have send 10 email reminders and couple of main communication I have the USPS receipt.6.

Yes, I think you have the main variables on a macro scale.

@Jeff Lehman just to be safe and for accounting purposes you should keep track of the interest and upon the tenant moving out disburse any interest to the tenant.

Main question is what is the lowest percentage you will go for rental properties before you consider buying. 

I own 64% and he owns 36%.The original mortgage was for $1.5M, but we did a refinance cash out (interestonly this time with the same mortgage payments as previous) and took $1M out last year.For argument purposes, let's say net sales proceeds are $7.5M, and our equityafter mortgage close out is $5M. 

Concrete foundation for a structure with a basement and main floor. 

However, generating leads is not my only main priority while getting started.

Both structures have their separate utility meters.The main house was leveled in 2003 so that will need to be taken care of; 4.5k. 1.5k for drywall repairs after the house is leveled. 

My main concern would be an eviction situation.