And for those who have inconsistent incomes, stalling can sometimes help.But the liens on the property (as @Wayne Brooks pointed out) are not affected by a BK filing unless they are reduced to unsecured status... that doesn't just happen.

Second, if you do not include it now it is hard to add PM Services later (as you indicated) without significantly reducing your cash flow.  10% or $225 is common for PM. 

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.

Keeps money stable, plus you reduce potential complaints if the network is down, or not working.

2) States that the property comes with title insurance and I emailed town treasurer but publicly it looks like taxes were paid.

I'm looking for local Dallas/Fort Worth BRRRR opportunities as well as buying cheaper high yield turn-key deals in cash (50k-70k out of state houses yielding 12-15% in Indianapolis, Memphis, Pittsburgh, Detroit, etc)Here's what I'm considering: what if I apply my 50k of cash towards the principal of my home, immediately reducing the balance of my primary mortgage down to 112k.

I'm looking at a property that has R2 zoning it is listed  as a single-family with an accessory unit in the public records.

How do you become, as a starting-out developer, a public sector housing developer?

@Ozzy Sirimsi  @Tim Youse @Joseph Abad Appreciate the tip about # of tenants in Towson, looking at the zoning laws : "After the effective date of Bill No. 124-93, a new boarding- or rooming house is not permitted next to an existing boarding- or rooming house unless permitted after a public hearing pursuant to Section 408.B."

If I set up my LLC and then tax it as an S-Corp I think that this will reduce the tax, but to what percent?