I am not too worried, I have reserves I have been building up since I first started renting these places out and I have been advertising the units for a while and have some prospects lined up.

I didn't put the addresses because I didn't read all the blog rules and didn't want to seem like I was advertising for any body.

There are people like me who call you out and remove your litter, deliberately depriving you of your advertising in the process and making your life a nightmare. 

Your huge net is all of your advertising, bird dogs and networking to get leads.

They are busy and have no need to advertise!

Jon H warned you about being careful advertising the amount of money that you have available.

So, I have decided to put a post up and share a permanent link for the spreadsheet.Here's a quick rundown of what it does.Calculates mortgage payment.Calculates down payment (assumed 25%, but can be adjusted)Calculates taxes, insurance, property management fees, misc. fees, etc.It also will take into account maintenance, estimated revenue increases, advertising, utilities, total cash outlays, etc.etc.At the bottom of the spreadsheet in red is your total net profit or loss.  

There is a 1 hr networking session followed by a pitch/advertising period.

I am an attorney, and what the tenant signed is what the court will look at if you were to have to go to court over this.I would send tenant #1 a letter stating that under the contract they signed they must give you ____ days notice and as they failed to do so you have the option to keep their security deposit but as a courtesy you will re-advertise the premises and give them back their mitigated portion of the security deposit minus advertising costs and any travel cost to you if you find tenant #2.

That $50-100 can be the best form of advertising in some areas.Good luck on your purchase, and please keep posting updates on how things progress.