The bank is charging me an "administration fee" of $895 plus a $231 discount fee. 

Since I am the administrator for our site, I can run back-end reports for average prices for various types of units, over different time intervals (For instance, I can see how 2-Bed 1-Bath units prices are changing month-to-month).The student housing business is definitely different in that you are generally working with multiple individuals on the lease (and their parents).

I understand there may be some more management intervention and some extra administrative duties, but the cash flow seems great.  

I am thinking about telling my tenants my dog can sniff for drugs. 

Rented for a felon friend of his, who ran a drug business out of the newly renovated unit.

This move would be similar to a drug dealer taking a deduction on his taxes for the meth he bought wholesale from his source.Keep in mind per Beth's advice, about 1099ing them,  the reason for 1099's is for the IRS to have a paper trail to follow the money back to the source to see if there are further taxes due to a miss-classified sub-contractor which is what the boys are. 

Sometimes I swear there's a certain percentage that drink or drug and hit ALL the computer buttons they can on these sites.I'll get an email from some, call them within 5 minutes and they're confused about which house (or houses) I'm talking about since they've sent emails out to so many.This week I had appointments with 5 people to show a house, including 1 I spoke with at noon who had a 3:30 showing that same day. 

do not get carried away, play conservative on your first deal, leave some room for error.3) Find a qualified and experienced contractor, do not settle for cheapest, you want experience here, because their is a significant administrative burden not only paperwork, proper formatting, but also financial constraint on the contractor as these sometimes have $0 prepayment to contractor.

We have a small HML business with a fair number of loans transacted per year. It is getting difficult to originate, track & close-out with an Excel spreadsheet and a collection of letter templates.

I have looked...

No success.My thinking is that since the other owner is deceased and (apparently) the estate hasn't been probated, perhaps the elderly woman can become Administrator of the other owner's estate since she has an interest in the property.