You can be compassionate without losing money :)Good luck!

so I have no intention of losing him.

You'll never time it right...and if your strategy is long term hold and you buy now and don't over-leverage, you are going to make money...and you are going to lose money....and you are going to make money...on whatever you buy.  

However, if you managed to lose money on the rental property without including depreciation, then yes, it will probably hurt your DTI ratio and negatively impact your ability to borrow.

Having a license will also help you cut on commissions which truly adds up and can make the difference between losing or making money on your first deal.

Someone with moderate resources like myself, that enjoys hard work, and absolutely hates to lose would be ideal.

Calculate how much extra this tenant's habit is costing you and factor it into the rent or add an extra charge for excess utility use.

You'll actually lose a LOT more with it sitting 2 months than if you just listed it at the lower price in the first place.Hope you found this helpful -- being a new landlord is tough ;)

My current plan is to connect with a motivated delinquent property owner who will accept a small payment to sign their property over to me and then market the property for a discount below current market value or allow the county to sell the property and collect the excess proceeds.

My name is Wendy I've been very interested in real estate for a very long time but I was always too scared to do anything I come form a long line of "oh no what if it doesn't work and you lose your money" family.