Ppl who think enforcing the contract makes them professional and good landlord are penny wise pound foolish.. contract is for worst case condition and almost everyone would agree that this tenant is almost as good as they get.. risk loosing him - few months of missed rent and what are the chances you will get a better tenant than this - very small..Ppl who think this doesn't make business sense - they don't know what a brand is ..accounting has a concept of something called "goodwill" i.e.

Just want to touch on the concept of timing.  

While there I learned some key concepts that helped me learned how to underwrite properties, structure deals and identify key sources of equity.

I am listening to podcasts and reading the forum & blog to familiarize myself with the concepts and terminologies. 

Currently I pick up all my rent (this worked fine when I was starting out).So here is the concept I have come up with .Give tenants 3 options to pay rent .1.

The 100% answer in this concept depends on your plan docs. 

What concept is the operator wanting to open?

If you understand the concept and have any kind of hustle in you, you can make this work.

Read as much as you can- Educate yourself on the basic concepts and there are plenty,- legal, financial, construction, management, land lording etc etc etc.  

BrianNotwithstanding the math, the concept is the same, if you are interested in cash flow as your goal, think MF over SFR.