Failure to pay gives you much better recourse with a business rather than an individual tenant.The key is knowing how to create and negotiate a contract agreement which protects your interests and is financially reasonable.It is common that a PM company in commercial will take the entire value of the lease and charge a % of it.

There are some incredible opportunities if we can be creative, patient, and stay smart!

The equity is key, and although it is hard to find, they are out there.

The time of year you buy abandoned property is a key factor to helping minimize water damage.

Otherwise, they are tempted to think that they've already paid the last month's rent and that they simply don't need to pay the rent the last month.I NEVER sign the lease with a tenant or allow them to have the keys until I have gotten both the rent AND the security deposit IN FULL AND IN CASH!

Do I have the right to enlist the help of a locksmith and enter the condo if they are not home or do not answer (the management office lost my copy of the key, long story)?

The key is to find under utilized and poorly managed properties and manage them correctly to optimize cash flow and property values.

Joy,A key to real estate investing is to find out as quickly as possible what they NEED you to do, not what they WANT you to do.

Protecting yourself is #1 key and inexperience require you to have professional team members to keep you out of large holes.

Please be patient, though.Sorry about the inconvenience.