@Stephen Rager Banks don't just give out loans on blind faith... so they charge for a 3rd party appraisal, check credit, verify income, and approve or decline the loan. 

They live in free housing and live for parties and free handouts. 

We had to get an exception to sign during the lockdown and let all parties sign the deal with social distancing, masks, gloves the whole shebang lol.

The only part i wasn't sure about is the LLC because i recall Brandon Turner stating in his book on rental properties that an LLC is ultimately up to you in the beginning.

normal is 6%, this was an arrangement made between parties. 

The craziest part is that most of you already know it!

Depends on the willingness of all parties, of course and definitely staying safe!

Casinos never go out of business because the house always wins in the end, because that's how the numbers are arranged. 

Killed my refi immediately, and the worst part is I had to pay for the appraisal to give me the bad news.In all honesty, though, I'm not mad.

I did reach out to all with a stay safe letter to advise all to let everyone to follow social distancing guidelines, to not hold any group parties at the property, to be mindful of excessive internet usage (that work at home is a necessity but binge watching shows around the clock is not), and to let me know if they have any maintenance requests because if and when our city or state (FL) implements a stay at home order I will switch to emergency service only mode.My thinking on this rent issue is a two tiered strategy.