@Chad KoenigSo, undoubtedly, you have realized it is the frequency of the {pre}payments that is significant and the HELoC is not actually necessary.

I bought these two houses that were next door to each other with a partner using hard money (3pts, 13% interest, and 1% extension fee every 3 months after the initial 6 month term).

I am in PA and yes, it is legal to charge late fees to your tenant regardless of Section 8 subsidies or not, provided the tenant's lease allows for them.

Of course they are going to have bad credit or they would be looking in a better area.Another thing you may want to consider to drive more applications is to not charge the application fee.

I would imagine that the hotel marks up their rates to use airbnb a little to offset their service fees, so the net is pretty close to what you would expect.

We charge a transparent monthly fee for this and our digital property management platform - but we are not a local property manager.We also give owners the ability to use a repair triage service and our vendor network, or address repairs with their own handyman.Our goal is to make renting better for owners and residents.

I know many people have lawyered up, and they’ve gotten nothing of value back in return for their legal fees.

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

I had a local bank provide a 1031 without fees. 

Account for all costs, including closing fees, holding costs, and repairs.