The company was a mess, so I couldn't dedicate my time to inspecting this one house 30 miles away.I called the tenant several times over a two-week period before they finally responded and told me they were in the process of buying a house and moving out.

I remember reading someone's post here on BP that this other landlord has a clause IN THE LEASE that states that any money collected from the tenant goes to pay for damages first, next to pay late fees and past rents and finally to pay current rent.In your case, when the tenant paid the rent late, the first dollars ($20 in your case) would go to pay the late fees thus leaving the tenant $20 short on current month's rent IF THAT CLAUSE IS IN THE LEASE.Not legal advice.My vote: evict.Keep reading landlording posts here on BP to get more tips.  

I want to make sure my math is right before I finalize my criteria.

Having finally taken the plunge, I have signed up on this forum to educate myself on REI.

Finally, do people also use the 1% deal for more than 4 unit properties?

How do I know what to ask for as a finders fee, if I don't know what the final purchase price will be?

Small lending will get a chance, small business will find better rates, bonds will finally become worthwhile, stocks PE should decrease, and retirees will get a break.  

My name is Ricky Zala with New Western Acquisitions.

I have been following for a month and finally joined.

That is not to say you should take advantage of their desperation, but you may need that extra protection if they, say, don't pay their final month's rent and you will likely have some repairs in the end too - that extra cushion can be very helpful.Finally, don't let your emotions get in the way.