I usually get rent on the 10th-15th of each month and want to reign that habit back in by going to a $75 initial fee with $10/day additional.

Otherwise, it can become a bad habit and gain unconscious action pattern.That said, remember that you are either trying to buy equity or cash flow at a discount.

You will receive an Addict award along with a habit; as well as learning and retaining useful real estate information without struggling.As Brandon Turner mentions we are considered to be the average of the 5 people we spend the most time with so connect with REIA meetings, accountability partners, and mastermind groups to engage with individuals interested in real estate investing.At the bottom of this page is a list with help in it.

The reason behind searching for a habitable and occupied property was that at the time I had very little income, and the bank allowed a portion of the existing rent to be used to bolster my income on my loan application.

If the plumbing is 'running slow' but not creating habitability issues, then you have a choice to make - listen to the tenant and make her happy for all the non-essential issues, or not!

You will receive an Addict award along with a habit; as well as learning and retaining useful real estate information without struggling.       

Your tenants in these working class neighborhoods would likely never do you harm, but it isn't hard for other people in the neighborhood to recognize its right around the first of the month and "Hey look, it's that landlord's car..."

Someone with questionable moral habits may see the opportunity and try to take advantage.  

Even if you try it his way this one  time, but don't make it a habit to do all the deals this way.

If they smoke and your policy is that you do not allow smokers as tenants, they have to go.If you permit them to stay, you will come to regret your decision and will pay the price both financially and in free rent in your head for allowing yourself to be talked into an obvious conflict of behavior.Smokers pay a price for their habit beyond sales taxes and health issues.