A late payment is a breach of the contract as well or failing to pay taxes on time or failure to keep insurance in force, but in all such cases the borrower cures the breach and in practice the terms are reinstated.

@Florence Oxenham, In light of a recent California Supreme Court ruling admitting an ILLEGAL immigrant to the California bar to practice law, I suspect the same will have to be true for all other state licensed professionals and immigration status should no longer be a factor... http://www.nytimes.com/2014/01/03/us/immigrant-in-us-illegally-may-practice-law-california-court-rules.html?

This is clearly a result of the collective appreciation we’ve had over the past couple of years.

So the property owner must make sure they are aware of & are complying with all regulations related to their vacation rental property.It sounds like your neighbor did not conduct adequate research before offering their property for rent on the short-term market or else there were other factors involved which allowed the City to shut down the practice in your neighborhood.

High in crime and reported gang activity.The property is a turn-key flip, so it's in tip-top condition, practically looking brand new.

Is there anyone familiar with NC collection procedures (actually having experienced the judgment recovery process in NC), who could give me a little more insight?

So I was wondering How everyone does rent collection.

You stated previously that you'd be charging a "commission," which would be practicing real estate without a license....a felony.

I have thought about setting up a non-profit to collect donations to tear down some of these old eyesores.

I collect rent checks in person even though I have a PO BOX set up and the tenants got a welcome package from me and I have re-signed all leases as my LLC as Lessor & tenant as Lessee’s.