Additional thought when I had a year lease she was never a problem.

On the other hand, employing the on-site manager through a property management company reduces your administrative burdens and leverages their expertise, yet it may entail less control and additional fees.

I say this because many place greater significance on whether they can receive a return of their capital over other criterion that are far more critical to the properties success.

@Jacob Hafer, in most cases its a sunk cost and some landlords nefariously even use the application fee as an additional income stream.

Other than explaining how his children will continue to receive the payments after his passing what can I do to get him on the positive side of creative finance?

Do you process credit cards as part of your business or have accounts receivable outstanding?

This works out fine for me as I live close by, have a have face-to-face relationship with my tenants and hardly ever receive mail for my LLC.

In addition, it is crucial to establish strong connections with brokers.

@Inga Davis, I think the minimum I would consider is the amount an additional vacancy/turnover will cost me.

Additionally, assess recent land sales in the nearby area.