A couple of things I learned from him...Always perform background and credit checks on the parents (the apple usually doesn't fall too far from the tree)Have in the lease that underage drinking parties are grounds for evictionCreate a one page doc that serves as "welcome to your first apartment".

Second month's rent was late (eventually paid with late fee only AFTER I served a notice).

If you see a property with gross rental income of $1k/mo, but expenses of $200/mo (or whatever), you may want to dig a little deeper into their P&L / Income statement to see if anything was left out.

Hey there.You want to see the rent roll and then also the P&L.

If they pay with personal check their cashed check serves as a receipt.

You need to call several banks - but be prepared with the collateral you are going to put up, your credit rating, appraisals - P and L, ask someone in charge who has real authority about their products - ask about a credit line and the terms - be prepared to give them every bid of information about yourself -Credit lines are great if you use if for real estate - get one as big as possible - always pay it back on time.

Dear Fellow BP Community, I'm a new landlord and recently served one of my inherited tenants a 30 day vacate notice as I'm doing substantial improvements to the apartment.

You want to move up the 80/20 leverage curve from technician to investor/entrepreneur.In Bridgeport, CT and New Jersey the investment is about 10% of rents collected which frees you from taking resident phone calls, coordinating maintenance, leasing vacancies, accounting P&L's, conducting inspections and making property payments.Owners often times suffer from "death by 100 cuts" when having to handle all of these small items, missing opportunities to achieve bigger goals.

It's not only getting mail, but being served notice if you are sued or get any legal correspondence. 

Hi Guys,To answer your questions @Alon L. yes LA does permit container homes, the city actually has a green housing program that will even give you free shipping containers.