Let us know how it progresses @JT Spangler .

Accounting is a work in progress.

It looks like in GA there is no statute on maximum late fees but I bet there is case law (an attorney could research for you) where judges have determined which fees are reasonable and which are not.

I'd be willing to bet it will be the best option of all since the sooner those payments are made the more impact it will have on the reduction in the amount of interest you would pay.

If you have absolutely no clue the best bet is to have a local attorney handle it for you, there are plenty of attorneys that specialize in evictions and will do so for a fairly low flat fee plus costs.The first step in almost any location is to provide the tenant the required pay or quit notice, giving the tenant X days (as required by law) to pay the rent before you can file anything.

NEVER bet on appreciation4.

For wealth building, the leverage betting odds are in your favor at this point in history with cheap money available and a lot of decent deals out there, but there is always risk in accumulating debt and you limit your mobility to purchase more deals with every new one you acquire unless you have significant capital resources.In rural west Tennessee where I grew up, I would only purchase property at a very, very steep discount which is often possible.

As a new investor myself, I find this forum very refreshing compared to a lot of the slick guru-types out there that want nothing more than to soak you for ever increasing wads of cash.My wife and I just started building our business in late October and are making some good progress, although it is turning out to be more involved than I originally thought it would be, at least from a financial standpoint.

Well, you've definitely come to the right place to progress in your real estate investing.

I'm open to meeting new people who can help mentor me as I progress towards doing my 1st deal.