This year was worse than most due to two units catching fire and needing heavy reconstruction and placing new tenants into both of them (which due to Covid took more time than usual - no large open houses, we have placed a total of 3 tenants in units during Covid and they averaged over 20 hours of showings including the no shows). 

@Eman Yazdchi 😮 thank you for catching that!

I hope this really catches on!

Our only catch is we will have to pay the 4 points and closing costs which I’m told will come to around 6k.

On the other hand, as the saying goes the man that chases two rabbits catches neither.

The title company will catch this and the closing will not proceed until this lien is satisfied. 

Regular machines are there, no quarter or card slot for the machines, laundry is free.The catch? 

Might take a year or two for it to catch up with you but suddenly you will get a huge jump in taxes which is why I don’t focus on investing in Indianapolis anymore :( cash flow is great for the first two years... this is exactly what happened to me and I even tried to challenge it and they can back with “nice try, the market is red hot and we can clearly see what you purchased the property for...”

today the husband called to say he will be 2 weeks late because the wife had a mental breakdown and was hospitalized for a week , so he had to stay home . also he informed me next month he’ll be a week late because he needs to catch up . the lease states there is a late fee after 3 days . is it fair to charge him under these circumstances? 

You can potentially catch the non-paying issue by having the tenants sign an estoppel and having the owner show proof of paid rent.