Only Fannie Mae has implemented a 4 property rule.

Lots of good points for people to consider when implementing their screening process (or reviewing an existing process).wildflower, what is your impression of the mrlandlord screening facility?

If everything is reasonable, implement it for your properties and tenants. 

Ask yourself before learning something "when I understand this, do I have a plan of action to implement what I've learned?"  

I see that there are a couple main view points on this topic, of which I will being implementing a hybrid approach phased in over 2 weeks, in 1 week increments.I have not marketed the property in any other fashion than a yard sign at this point, as its the first of the month and I wanted to conjure up word of mouth within the neighborhood, and potentially forgo additional marketing cost should if it should rent quickly.

That is my mobile home parks policy and I adopted it as well.If you implement a $50 late fee after the 5th, if yoru tenant is past the 5th they may just say screw it, I got the late fee and I will pay rent at the end of the month.

@Alan DeRossett, I believe Tenantcloud, Cozy.co, etc have good tenant portals as well.It sounds like to you have a similar background to mine, so you also probably realize the true cost of implementing and maintaining a system such as that. 

I am mostly interested in learning more about implementing BRRRR and Lease Optioning.

Overall, what strategy would you implement?

And others either aren't willing or able to see or implement your advantage.