I also told them at application what I expected, and how the eviction process worked: Rent is "due on the first, LATE ON THE SECOND, on the third, or at the latest the 5th, their 3 DAY LETTER, would be "nailed and mailed", on the 4th day I would be at the JPs office to file a WRIT OF FORCIBLE DETAINER, and that once I had taken that step THERE WAS NO GOING BACK.It must have worked, between 1980 (converted my first house in Houston to a rental) and 1998 (sold and seller financed my last rental in Houston, I only got to the filing stage 3 times and only had ONE TENANT SHOW UP IN COURT to contest.

Rent is DUE ON THE FIRST, it's delinqent on the SECOND, not on the 15th!

We ran the ad, got the usual ton of calls, she wrote a contract on the second couple that looked.

Presenting a deal that you can't explain to the average moron in less than 30 seconds is probably not going to get the courtesy of a counter offer.

The problem normally that comes to mind with this strategy is two fold: 1) You have to take title to the property (even if only for a second) so there are double transfer taxes, double closing costs, etc., to pay...., and 2) the new buyer may have trouble getting a loan because now you have a title seasoning problem (most banks only wish to give loans secured by properties that have been held by the seller for 12 months or longer).

First, remember the banks are regulated by the federal government and they are required to underwrite conforming loans and second, bank loans tend to be very structured and are generally inflexible to your project needs.

Second, I've started actively manage my money.

Second, she used knowledge and information that she acquired in client/agent confidence to make a good deal for herself, not help the Jones'.

Second is late, third day eviction starts.

I can get pretty creative with the financing from holding a second up to 20% to offering cash back at closing in the form of prepaid rent if necessary.