If you do low income houses like us, we are changing out leases where they're rented at a discount if paid by the first, that way as long as they always pay by the first, we are good, and if they don't-- they get what the increased rate would be, $50-$75 more, in addition to the late fee if after 7 days.  

The 2 year lockout period means that they will not accept additional payments beyond the minimum payment (trade-off is that sometimes you can get them to go for interest only). 

By increasing the property's value through renovations, you can potentially increase rental income and improve cash flow.Long-Term Rental Demand: Consider markets with strong long-term rental demand, such as college towns, military towns, or areas with growing industries.

Additionally, you may want to consider hiring a local expert moving forward to help mitigate these issues.

You are able to obtain no income no doc ground up construction financing .

Additionally, you always have the option of loading up on a ton of insurance and putting it under your name.

And, I would easily win any argument that the knowledge you receive from a seminar concentrated on a subject which, if used correctly, can net you thousands of dollars in income within weeks is worth thousands times more than any standard educational instruction in the basics of getting a J.O.B. 

Your profile mentions that you are a real estate agent - You want to have a conversation to see if you potentially are eligible to claim real estate professional status which would allow you to treat your rental losses as active instead of passive.Also have a conversation if you are required to make estimated tax payments since there is no withholding on your commissions.Lastly, your profile mentions you are in Florida which does not have a state income tax which opens you up to more options for choosing an accountant.

It is currently operating as a long term rental, but the income would at least triple if we were to convert it to a short term rental. 

The IRS considers it a loan, just like any other, that represents potential interest income to the lender (in this case, you).