Hi All,Reaching out for some help.First time landlord, 6 months into taking the keys (live in landlord--4plex and I live in one unit and rent the other 3), I have my first tenant who is late on rent.She texted me this afternoon saying she won't be able to pay until Monday or Tuesday.For reference, when we signed the lease she asked if there was a grace period on late rent, and I said no, and that it would be $25 late fee for each day late.Any advice on how to handle this?

With financing, you own many more properties and use primarily other people's money to pay off your home for you over a long period of time.

Period.

That'll be somewhere around $3000 probably.You can finance closing costs into the loan but either way, it's a cost.If you're purchasing with cash, then you can use delayed financing to bypass the 6-month seasoning period.

And in periods like we have now, in most places in the country - where appreciation is crazy - the gap between assessed value and asking price will seem even more extreme. 

I think having this as a 'personal residence' and the partner not getting anything for an unforeseen period makes this a difficult ask.The 'partner' will also be stuck with having this mortgage show up on his credit report/DTI which will hurt his lending power on future deals.

If so what is the hold period if any? 

It is a long hold period but that should be outweighed by the tax benefits and potential appreciation that come along with a QOZ fund. 

The reversion statute does provide for a longer, twenty year reversion period from the date of the deed, but only “by affirmative statement contained in the record of conveyance.”

  =)Some financial institutions have other types of loans as well, for example a 20-year amortization period and a slightly higher interest rate, but easier to qualify for.And one way to look at the situation is that the equity in the property is like the down payment.