How do real estate investors handle the financial gaps when buying a new property before the previous one sells?

I lined some prospective new tenants kind of took my time, was picky, didn't find the right tenant yet, plus I had to get in there and paint/repair etc  but towards the end of the 60 days I was showing the place to some i thought was gonna fit and lo and behold the tenant calls me the day he suppose to be moved out and told me he changed his mind, going thru personal stuff and wanted to stay.

We are new to the real estate industry but we are building a family owned business to earn an honest living while being able to provide and instill good ethics and morals into our children.

Just trying to feel out the market.

Hello everyone,  I just joined the forum and BiggerPockets Pro.  

Laud area-Cash flow is minimal, $300 a month-Selling now would allow opening up of equity to redeploy in another market with over 2x the cash flow for a new build-New market won't appreciate as much as FL though (not even close)-Current home will likely get hit with higher taxes, insurance etc. in coming year and years to come-Biggest reason to consider just keeping current property?

You are looking to create the biggest spread possible so shopping around for the best rate and terms should be a priority.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Their website has resources, to include a Landlord section in the menu: https://housingforhouston.com/landlords/partner-portal/

I didn’t paid the 10% penalty fee.