Overall though it couldnt have been a smoother first deal and i'm glad it was because as i've dove into more deals since I could see where a lack of motivation could come into play if you run into major issues on deal #1.

With every subsequent invoice, show the accumulated back rent AND late fees as they build up.Now, the tenants that actually are impacted by this will be made aware of what's expected of them...and, these are the tenants you can play nice with (if needed), when that time comes.This scares, and usually, and miraculously, fixes whatever the "problem" was that allowed them to take advantage of the situation.

These laws essentially state that if you sell a controlling interest (the % is defined in the law) in a business that owns real estate then the transfer taxes are still due... and collectible once discovered.So see how this plays out.

Our coach did an amazing webinar on this called "Tricks Syndicators Play to Make the Numbers Look Good" - I can't post a link here but shoot me a message I'd be happy to send to you.

I will be playing around with those tools for sure.

I need to move the property to an LLC for the lenders and want to consider all the factors in play including what type of corporation, setting up the units as condos and possibly using a trust as I think ahead to my son's inheritance.Too much info? 

Very labor intensive but was a great way we got started in real estate. 

There are a lot of variables that can go into, but in general I believe supply/demand have a big play in it, especially within the current market. 

Everyone else’s rates will look the same way so level playing field.

Don't play around or try to figure it out on your own because that's just as likely to fail or cost you even more.