I was recently laid off from a marketing communications job that I did for 25 years in oil & gas and now I'm trying real estate investing full-time in the Houston and surrounding areas.I am anxious to get started and look forward to meeting and learning from other real estate professionals like yourselves.

If you have a written policy in place that says that you handle things on a first come first serve basis, and then communicate that to the person on the phone.

I was watching Eddie Speed video and he said something to the effect that he used $100 to open up a ROTH IRA and used that account to buy a $70,000 note.

Do you have any advice around how to most effectively collect rent on late tenants?

I'm trying to get and idea of how this situation will effect my tax bill for 2015.I purchased and renovated a house in fall of 2015 with cash from a heloc on another property.

Worse case let this one go and communicate to tenant this is a one time thing(since it sounds like he did it in your best interest).

The terms of the agreement state it is transferable if the new buyer signs an acknowledgement of the terms (or something to that effect).

A sole proprietorship is probably the least effective as far as maximizing tax benefits.

Lenders are looking for safe places to earn interest and I don't think showing them a year of negative cash flow is going to have a positive effect. 

Given that I have good credit and can pay 25% down, would a commercial lender be the most coat effective route?