Just a thought, I ran into that same problem when I first started out and realized I needed a better rent collection system.

If I evict a tenant and I am unable to collect on the rest of the lease, is there a way to deduct the loss on my taxes?

I will be collecting here different and relatively new articles I stumble upon in my research.

Also on a side note I happen to be a sales executive for a firm that sells resident screening, renters insurance, and rent collections services to property management professionals which had a big part in inspiring me to invest on the side.Looking forward to speaking with everyone and learning more.

Let's say instead I charged $9,000 which I would collect over 3 years.

Some are being marketed as turnkey ready to move in and collect checks, I know that's BS to begin with but after running numbers they are losing 150-200/month at their list price...

My favorite one charges me $150/year fee total for 1-10 homes, doesn't charge me to fill a vacancy, and charges 8% of rents collected.

I'm sure the costs are negligible but it just occurred to me.Second, while the trash pick-up is paid for by the tenants, how should I go about collecting the payment since there is only one bill.

I had success in getting foundation companies to come out and evaluate the property, provide a formal estimate for the repairs, and have no issue providing the required supporting data for Fannie Mae.

I know in MI law the seller is either required to transfer security deposits to the buyer or return them to the tenants and the new owner is responsible for collecting deposits.