My plan there is to focus on long term rentals.

Does your friend want to rent out the rooms long-term?

I’m interested in investing in more real estate to have long term and short term rentals for passive income.

Would love to connect with you and hear more about your current investment and what you are thinking in terms of your next one!

Then I explain my process in brief and simple terms: background check, lease agreement, collect deposits and ask if they'd like to proceed.

So, I had to get the owner and tenant agree that it actually took place. 2) Meeting Tenants - I would say not needed, but certainly when their lease is up, you want to re-screen the using your screening criteria for income, background, etc... 3) Review the leases and understand expirations and lease renewal terms if any.

We have several different "types" of properties to include traditional single family rentals, one multifamily rental, lease to buy options with tenants who hope to buy from us, two short term rentals, and some agricultural farm land that is cash rent. 

I initially planned to invest in Lancaster but was priced out and needed cashflow in the short term...What are your concerns?

Of course, it ultimately depends on your available funds, short/long-term goals, etc. 

@Eric Gerakos this may be a silly question, but how do you deny partial payment... the tenant has been paying by Venmo/Cashapp (which may be a problem in itself) or are you just saying in terms of setting expectations with the tenant.