Maybe a good property manager could take all that burden off you, and you could just collect checks.

Leases generally go with the tenant but if they owe rent to the previous landlord he will have to take them to court to collect. 

@Patrick Britton I think you will find this varies everywhere...all my assumptions on our Inn were at 30% occupancy...if it performs at 70%, we'll be golden...There is a site called Air DNA that has this data for your area...paid of course, but good user interface for sure.

Depending on what lender you use they can consider the rental income that you will be collecting in the equation for how much of a loan you would qualify for.

We learned to get feedback investors who tend to like trendy areas rather than what we think is a good investment, or areas that haven't showed up on the collective radar yet.

As we approach the end of 2018 I thought it would be interesting to look over the data I have been keeping track of in regards to the sales of our company this year. 

2) Do you collect management fees when a unit is vacant?

The best case scenario rents are $2200 at full capacity with everyone paying (rare), the mortgage is $1400, utilities run roughly $500, and property management takes 8% of what is collected (a good rate).

Requirements To get a Collection Agency endorsement, you must: Get a trust account.Maintain an office in Washington State, managed by a Washington resident.You cannot begin business activity until you receive a Business License listing the required endorsement.Washington is a closed-border state.

I'm considering creating another document that is completed individually to collect this data.