I mean if they pay late and pay the late fee they are back to being a tenant in good standing in my book. 6.

This unit will be 100% cash flow since the upstairs 3 bed 2 bath unit already pays for all property expenses.

Tenant placement is by far, THE MOST IMPORTANT service any PM can do for you:  find a qualified tenant in the shortest amount of time who pays on time and takes care of your investment.

We have some short term debt we need to pay off at the end of July (300k).

There are SO many things worse than paying a big tax bill. 

Even a 30 year note usually pays off in an average of 7-10 years. 

Travel nurses wages have gone down significantly, while still having to pay duplicate living expenses (primary residence and travel residence).

Or should I open a new LLC that acts as a sort of “property management” that collects the rent from all of my other properties and pays out the expenses?

If you have a lot of equity that you can use for the next property, that’s a great way to build your portfolio, make sure the potential rents would have no problem paying the mortgage.

When he went to draft up the contract he made it a Confessions of Judgement contravr in which I waive all my rights and if any of my "associates or friends" talked about him I'd have to pay half a million per offense, and he could easily claim a violation happened that never did to collect half a million dollars and I wouldn't be able to do anything about it.He consistently threatened me with legal action into trying to get me to accept that crazy contract.