I'm sorry for your loss and hope you can turn it into a positive here at BP.

Yes, I plan on managing these as I am more than capable of the M&R items and my wife will take care of the administrative items.

If this occurs, and the tenant wants to get their account in good standing, they must pay the late fee as well as any and all legal fees associated with the late payment.In our experience, this has significantly reduced late rent, and it gives the tenant the feel of a very rigid structure that will be less interested in pushing in the future.When we have bent on this in the past, it seemed to have created a never ending problem of late rent payment and our management company always begging for rent.If they don't actually want to pay the rent, then starting that eviction ASAP will save you a ton of money and rent loss.

However, by Iowa state law, no matter when they leave, the landlord must make due diligent efforts to rent unit asap to mitigate the landlords losses.

In regards to the actual policy, I like to keep my deductible up around $5K since I will only use it for big items this helps keep my premium down, I also like to get as close to $1 million in liability coverage as possible.

Interest on an automobile purchase (to the extent of business use of course) is included along with parking fees, tolls, and taxes as a "separate item" distinguished from the "fixed and variable costs" described in §4.02 that are not deductible when using the standard mileage rate.The theory here is that the "standard mileage rate" is the sum of "fixed and variable costs" such as depreciation or lease payments, maintenance and repairs, tires, gas, oil, insurance, license/registration fees, etc., on a per-mile basis.However, this "standard mileage rate" does not (theoretically, of course) include the "separate items" of parking fees, tolls, interest, and taxes, and so these may be deducted in addition to taking the standard mileage rate.Also, I assume your car is relatively old or inexpensive such that the standard mileage method makes sense as opposed to the actual expense method?

The property is operating at a loss & the tenant is "soft threatening" you every renewal?

Unreimbursed casualty losses can be deducted (as an itemized expense) on taxes.

So if there is a major item needed, then that person is who the Property Management company would call for the go ahead. 

Hello Jon,I might be missing something but pro-rate rent and due date are two different items.