At the beginning,  everything looks on track but the disaster is started on Nov 2017, they stop to pay the rent payment and no response even I chase. 

Have something to NETWORK - talk is cheap --- go out and put something under contract - this is a business and you are the CEO - treat it like a business - no need to chase ghost ---- get something under contract -- I use a one page contract that we call the "Skinny Contract Offer" it works like a charm because it is easy to understand and it makes full disclosure - it says that my goal is to earn a reasonable profit by assignment or marketing by private treaty or public auction. 

@Trenton Chase MartinHi, welcome to our town!

A bird in the hand is worth two in the bush.

I wouldn't chase rates because I read some article that this city is up and coming and growth is coming.

Don't give them SASEs: if they don't like paying .50 for a stamp they can send payment VIA Paypal or some other app or they can go to your office/some other place you'll be where you're not wasting time waiting for them if they want to pay VIA cash (I don't chase rent - they send/bring it to me).Favorite lease addendums: "A range and refrigerator are provided but maintenance and repair are responsibility of the tenant and......All drain and toilet clogs are the responsibility of the tenant" are my two personal favorites.

You will be chasing the grantor for the remainder of th elease when a student drops out at Xmas. 

@Chase GrayYou should consult both an attorney and a tax CPA/EA.Why did you put "gifted" in quotes? 

My biggest concern is that the rent is no where near able to cover large repairs to the unit and that I'll end up chasing my tail for this tenant in particular.

Right now, everyone I know is chasing it and driving up prices.