The roof is mint and was replaced past three years but everything else needs work, its a full basement but has a bulging cement.

., it occurred to me that when people budget the PM cost, like I showed my post, people normally don't budget the 1st month rent for tenant placement.

At the time (several months ago) any buy outs would have to occur on a one on one basis, something that could wreak havoc on ARVs.

If I recall there is a minor difference on when this occurs within the month, but it doesn't translate to anything significant in the end.

Your bad tenant WILL spiral because they continue to allow this problem to occur (and I think its a signal they've lost control of their lives, in some way), they will continue to pay late or not at all, then you have a hostile tenant refusing to leave because you are a PUSHOVER.

Don't pierce the corporate Veil: This can occur if the entity either is poorly capitalized.

If that should occur, you will get notice to cure and you have time to sell, refinance, or work out a deal with the bank.

Obviously you believe something untoward occurred somewhere, I have no idea what that is.

I'm still fairly new and it didn't even occur to me that they're getting the first month's rent every time a new tenant comes in but that of course makes sense!

I don't know the specifics but lets say you have a $100k policy on a $200k property and $75k of damage occurs.