I obviously am not a decision maker on the matter but here are my two cents.

The check just arrived today 6/15My question is, should I email my tenant advising that I received the rent from his father and per our agreement at the start of the lease that he needs to write me the check himself and include the $50 late fee, *5% late fee?

In the ZIP Code of where the property is located the average rent for two bedroom is $650 dollars per month.

Buuuuuuuuuuut many investors get greedy & try to buy the cheapest possible homes in the cheapest markets in the country in an effort to get more "cash flow" I've seen investors pass up awesome opportunities to buy high risk stuff because they would "cash flow" an extra $50 per month.....................$50 per month?

Any decent contractor that has 1m coverage per insurance class will qualify.

So my 2 cents...."

If I attempt my first gut rehab I could rent the 2-family out at $1000 per unit.

My problem with hard money is not the percent in which they take as I find properties with a great return.

PROPERTY INFO Address         Type Condo         Bedrooms/Baths 2/2         Square Feet 922.9         Year Built 1977         Parcel #                 INCOME Month Year Per sq. ft.  

So I always urge people to start with the end in mind and take a more passive approach.Do the math here… you with 300 dollars per property (2 months of work to buy a turnkey rental) you are going to need 20-40 of these to replace your income.