Living there I happen to know several tenants aren't paying and there is no restaurant currently there and hasn't been for years. 

Also charging them a 50$ late fee (if it takes them more then 7 days to pay) im thinking maybe I tell them they need to start paying on the first and kinda frame it like a warning?

To me, that's just taking advantage but people will pay what they will pay.$1k UW - This is within the range$1k Legal - This is within rangeAdditional costs - title, appraisal, property insurance (~$2k)10% of renovation estimate as contingency due at closing.Renovation funds issued on a reimbursement basis for work completed. - I never, ever heard of 10% of the renovation funds due at closing and I've closed 100s of bridge loans with many different lenders.I think there's way, way better terms out there but I do not know your credit, if it is good these terms are way off.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Sometimes they will pay you to install for added business.

His rent pays our property taxes, our water and sewer bills and will be paying to replace the windows in three of his rooms come springtime.

Or he will have to pay a lot to buy it down. 

I have a portfolio in Detroit (similar climate) and pay $75/mo for a SFH and ~$125/mo for my duplexes.

When creating a list, you are essentially filtering homeowners based on who might seem most likely to sell.You can check your local county records site for properties with delinquent taxes, probate cases, or foreclosure filings

Just play close to the vest, please use common sense, no one loves your $$ more than you, be smart and always pay attention and ask questions tol you are satisfied if something does not make sense!!!