However, it is good to be aware of the pitfalls and to talk to experts in the field who can guide and prepare you, especially on your first few deals.

i'm certainly no expert on insurance...maybe somebody that's had a total loss could help us out and tell us what happened in his or her situation....

Tenant pays a few days late each month, but less than 5 days late (after 5 days, I accept certified check, at my discretion of continuing lease or not).

I always ask for it in cash, money order or certified bank check.

If you make it 3 units, you'll also want a 3rd meter so that the basement is solely on its own.Make sure you get your property certified lead safe or lead free.

Hello Nataly,I am a Texas Certified Public Accountant and I am familiar with various software systems.

You can either negotiate a new contract or move on to something else.This is a short summary of what I have written out put would appreciate some expert advice/ideas on this concept.

Same goes for self storage though that is a little different market and I'm not a expert on either. 

@Anthony YoungWelcome to the site.I focus on the other side of town so I am by no means an expert on Euclid but I believe you are in the $850-950 range.I wrote a pretty detailed blog going over a lot of the west side suburbs of Cleveland.Take a look at it HERE I imagine you will find the info helpful.

There are plenty of great 1031 facilitators on BP who can chime in with an expert opinion as to that aspect of your plan.