My goal is to train the resident to pay on time and perform under our lease agreement.

Hello all,I've started compiling a list of issues to check for when performing due-diligence for a performing-first lien note.

I look forward to my journey and talking with anyone that's willing to share any advise with me.

How have these smaller buildings performed during earthquakes in recent memory? 

And advise is good advice thank you. 

(there is a reason the property is cheap, and that's because you will probably put in a lot of sweat equity collecting rents and dealing with residents)On to the actual management and what to expect .As you are discovering that closing on the deal is just the beginning, now starts the real work: Getting the property to perform consistently and provide you with cash flow!

The likelihood is that he is going to not perform, trash your property (what's he got to lose?)

I added my commission on top of what the seller advised they want to make from the property but I don't have a contract with the owner.  

., for trash removal, elevator replacement, roof repair) the investors get a great price and excellent performance.  

Can anyone advise on this recommendation?