If Tenant fails to pay rent when due and the default continues for three (3) days thereafter, Landlord may, at Landlord's option, declare the entire balance of rent payable hereunder to be immediately due and payable and may exercise any and all rights and remedies available to Landlord at law or in equity or may immediately terminate this Agreement.

(http://www.loopnet.com/Listing/20404304/415-e-Magn...)This is more of an academic exercise as I am currently buying 3/2 SFRs, but I want to think about how to value multi-unit apartment buildings.

Jonathan Twombly My sample size is pretty small so it wouldn't surprise me at all if other markets were different.

Do a mental exercise and add that $200 negative to your new mortgage payment  of the refi and see what the cost of that money really is.

You can likely find a sample letter on the 'net.

One person did say, sell him an option for the lower price and let him exercise it. 

@Mark S.' suggest to "track every expense" may be a good exercise. 

It's written by attorneys but is very easy to read and full of practical advice, sample forms, and specific laws for each state.

We encourage everyone to bring meaningful dialogue and content to the forums at BiggerPockets and not make empty posts simply as an exercise of building brand or planting keywords.

I've also read a lot about all of the criteria that I should evaluate and some sample locations of where some of that data could be found.