My husband does appliance/plumbing/boiler/electrical repairs, turns apartments, does inspections, deals with contractors, and troubleshoots on a regular basis.

Like @Dean Letfus , I'm trying to rack my brain for parts of this city where you can legitimately achieve a 2% ratio on a consistent basis and the only parts of the city i can think where that may even look possible are areas I would not invest.  

This was the one he used for his everyday clients and I added in some of my own verbiage.

I have always done non-refundable. for tenants who have multiple pets (i had one tenants had 4 pets total, dog and cats), we do 500 non-refundable, and 500 refundable. for the refundable part, at the end of the lease if there's no damage, deposit back.And I request reference, and consult with insurance expert on the pets breed, making sure it's not the aggressive type, have good background/history and house trained, etc.Also, I advertised as deposit is per pet, but if they have multiple, it's always a case by case basis, I want to get as much information as possible about the pets first, and then negotiate a agreement with the tenants.

It's not easy finding deals out there right now - I know, I'm looking everyday myself.Take care,Steve

One of our tenants sent her a warning letter from their lawyer, and she kept quite for a while.we have also told her to call the police couple times, surely enough she never called.I think telling her to call police actually help the situation becasue her complains were based on no basis, and she probably don't want to get in trouble for calling police because of silly reasons.Our HOA has helped a bit too, a lot of time conflicts go directly to HOA, which save us some crazy phone calls and emails.for you, how was the noise level between the upper and lower level?

I just purchased my 5th rental and I am in need of some advise on how to set up books and track the basis of this house.

Successful REI is about taking a step forward everyday.

Life happens to people everyday.

Sometimes what the legal system views as an "employee", is not the same as an everyday citizen does.