Should I require both of them to pay application fee or only one fee?

s mentioned JV is best initially ..always pays to be circumspect and cautious the first few, once you gain confidence all alone is good to go!!

If you do pull out money from the HELOC, have a plan to pay it back within 18 months.

Obviously, if the tenants fail to timely pay rent, you can enforce their obligations with a notice to pay.Your question is legal in nature, so I recommend that you consult your landlord or FHA attorney in your state about it.

BRRR deal could get you the cashflow and the value add payout without having to pay capital gains on the equity.If you’re not fatalist with the Multifamily Wealth podcast with Axel Ragnarson I’d highly suggest checking it out.

They say the next door neighbor was renting it (stop paying) for storage and continues to use it.

We all know that tenants who pay their rent on time and in full every month, tenants who get along with their neighbors and tenants who don't tear up the property but report legitimate issues DON'T get evicted for "no reason."  

I haven’t seen it personally but I imagine it’s some kind of “use us to sell or pay a penalty” clause. 

The same tenants that didn't pay you rent while they were residents likely won't pay even if you get a judgment against them.For better or worse, this is the nature of the business we've chosen!

The current owner pays $4K per year.