I think being a contractor is one of the best sets of experience for real estate investors that can be.

Would you like to set a meeting?

Keep in mind, unexpected issues may arise, so stay prepared to adjust and adapt as needed.

Treat any consultants (mort brokers, realtors, inspectors) like employees.You set expectations. then you manage expectations.

I might offer to waive his late fee once you receive his July payment, and you might also make that contingent upon him setting up some sort of automatic electronic payment system in order to make sure he doesn't have to worry about it again.Bottom line, he 100% still owes you July, and ASAP - but I wouldn't even make a point of calling him out on it, it should be such an obvious thing that you talk about it casually and matter-of-factly, and then go about it from the attitude of trying to protect his security so that it doesn't happen again for his sake. 

 @John O'Leary I've seen the adjustable LTC based on experience but in my example neither lender adjusted their LTC based on experience.

Ex: once the value of the property increases by $200k according to X estimate or set of comps, we will sell the property.

Any good strategies that will get me set up for an 80% LTV purchase?

Meaning if you are setting aside your W-2 ( already taxed) amount for future use, then no.

I will message you directly to set something up. :) I am considering mid-term rentals, and I will try it with one of my units.