If absolute across the board implementation were to occur, the we would see massive foreclosures again as current owners would have severe impact in their monthly budgets, even if deferred to April 15th where the S*** hits the fan.The mortgage deduction is akin to social security - - the well know third rail of politics - - touch it and you will (politically) die.

In which market will you be implementing your strategy?

However I do it, the new fee will be implemented across the board with all the properties I manage, but this is the only consistent late payer I have right now.

I just wanted to see if I did something wrong or is there something essential that I missed to implement. 

It is much easier to learn with a few homes than to implement with a larger inventory.  

People that start focusing too much on websites or implementing CRMs etc at the beginning tend to be putting off the business of actually doing real estate.  

I will take everything you have said and implement it.

There are documentation practices you need to be implementing today rather than tomorrow.

Originally posted by @Dyryl Burnett:Hello All,I desire to do the following:-Purchase a distressed 3/4-unit Income Property, Owner Occupied (House Hack)-Rehab the property via a 203K loan (Chicago is an appreciation market)-Once the property has tenants and the necessary systems to run effectively, save reserves for that property When you implement your plan consider paying for a warranty program from companies that cover multifamily up to 4 units.  

If your son is a co-owner of the property (joint tenancy or tenant in common) and lives in the property, it satisfies the owner occupancy for high-ratio / insured mortgage programmes.