you might also consider buying an extended warranty...

I’ve communicated to the tenant that the grace period is in place as a convenience not as an alternative to the due date of the 1st and yet it’s still an on-going occurrence.I’ve been trying to figure out how I can give incentive to getting the tenant to pay their rent on the due date while allowing the grace period should a real emergency come up followed by a late fee should the extend past that.

Hi Guys, Has anyone found a bank / credit union / portfolio lender that is willing to refinance or extend a HELOC on a non-owner occupied residential investment property that is held in an LLC?

Most have lots of hidden fees and won't extend if you need it.

Kenny, thanks I am actually an property owner looking to help out my wife's extended family with their rentals.

If the deal takes longer then you expected, or permits end up being required or any other type of delay, that could lead to the hard money loan needing to be extended which gets expensive quick and would immediately tack on unnecessary stress. 

My extended family does not have the skills or business sense= not great with money.

You have someone else on title, you have a steady income, you have a TON of EQUITY, you have no maintenance costs, you've extended any tax liability and you still have an interest in the subject property, banks love that!

I'm considering extending the closing period if the seller is willing to reduce the sales price.

Renegotiated rents and extended leases without having to renovate property.