You don't have a grace period in that lease and I don't believe PA requires a grace period.

The power of tax-free compounding growth can be really meaningful over long periods of time.

What kind of hold period do you need to achieve the 16% IRR  while you are earning the 7% monthly rate?  

Several reasons: market rates, cost of operations, risks of the tenant in particular, rental history, turnover potential, loss of rent during turnover period, "hot" or "cold" market, etc.

We accept cash, credit, check at any time of the month, for any period of time.  

Distressed homes are hard to find, and I am learning that I don't have the fortitude to withstand the rehab process.My goal continues to be finding residential and commercial (office/conference space) property for rental purposes over a one- to five-year period.

This is a bad application of the law if this is suggested. 2) Some people say 27.5 years and some say 39 year depreciation - look to the average period of stay in your STR. 

I'm looking to see what others ask in terms of programs the tenant is on, details of voucher, waiting/inspection periods or any other pertinent questions?

Maybe I do 2 months, and then have the 3rd month broken up over a period of time. 

For the past few years I’ve been periodically posting about complex, somewhat hard to implement, and time consuming strategies and tactics that I’ve used and can be used to “accelerate” wealth building in real estate.