Someone can have $100k in the bank and with no income go out and buy a Ferrari tomorrow and suddenly can't pay you.

I see know how this is too big of a surge in rent, but the numbers totaled less than current rents in the area.

I'd leave that out, or change the wording to something along the lines of using surge protectors for sensitive electronic equipment.

And what can often happen is they will start complaining about confusing things in order to get out of the lease - like all of a sudden they supposedly have bed bugs or roaches or mold or whatever, when all they really want is out of the lease.You're just way better off to just let tenants out of a lease if they want out.  

Areas with lower initial cash flow, but stronger rent growth suddenly make a lot more sense.

Regrettably, they are all different and were sudden in nature.

The money was from the life insurance proceeds from my mother’s sudden passing.

Ask them first what if any repairs or upgrades they need (when you introduce a rent increase they will suddenly remember what needs to be fixed, cut this off by getting them ageable that the home is in good shape first) Then let them know that an increase is coming, and I like to offer some choice, even if they really arent choies, it makes them feel more in control.

Suddenly my second child's severe hearing issues didn't warrant ear tubes.  

Late fees help, but you do want to determine why the sudden change in behavior and if this will impact the coming months in order to handle it the best way.