Bought our first rental property late last year- a vacant, second floor 2 BR, bank owned condominium. 

Just finished Grant Cardon Podcasts #071.

Some properties also require a lot of renovations (sometimes I estimate 20k minimum when a 1600 sq ft home needs a complete interior finish)?

I just drove 40min to a property in East Flatbush late last night (instead of spending time with my wife) just to learn that the client won't make it after all.

I am new to BiggerPockets, so apologies if I've responded a little too late.

I have been thinking about the student rental strategy a lot myself lately. 

Sorry for the late reply. 

-I highly doubt they have rent, plus late fees, plus costs to cover filing-We planned to issue a 30 day if they had paid with the 3 day-I also doubt that even if they paid for May, that they would have June's payment by the 1st.

Starting in late September 2017 under the new tax law, it no longer does. 

At one point I took back a property from a failed fix and flip and ended up trenching the finished basement and tearing open walls to allow for inspections of work that had been done long, long ago.