I find that part highly unusual and I wanted to make sure the way I read that was accurate.

If a tenant is regularly late on payments, there is a very high probability that they will eventually stop paying or violate the lease in other ways that cost you far more than the late fees you see as "extra income."

I have also took pictures and video's of how much damage has been done to the property 

For example, some brokers are as high as $26,000.Are they charging you for E & O insurance, Skyslope, a CRM?

The risk is very high when you are brand spanking new and you will definitely need to go through some transactions to get an idea of what you are doing. 

Active Market High and/or consistent transaction volume.

We own our primary, own a STR internationally, 3 commercial buildings, and a 4-unit apartment building - so we are highly familiar with real estate but here's a new conundrum.

I also have 11 other LTR doors in the city (also do extremely well).If you have a high capacity to save more capital you could do BRRRR's in Detroit.

Hey looking for multifamily 20k down cash flow 200 - 300k a month c class neighborhood high rent growth potential  

@Benjamin WeinhartMy experience on this tax forum tells me that highly technical discussions of the Code/Regs nuances are not well suited for this platform.That said, my 2 cents is that this issue is a matter of interpretation.