Those kind of little habits are what I want to start implementing daily to help me learn and to become an investor. 

If this is a rental deal, you might have different splits for cash flow and sales proceeds or you could implement an interest rate on the money in addition to the profit split so that the capital gets more of the income.  

Check with your connection who is an attorney doing the evictions, and see what he needs lined up and make sure that trying option 2 does not create another free month before you have to implement option 1

My company does not implement this kind of reserve system, but other companies do.

Have you implemented any of the energy saving devices in your rentals? 

Read John Bogle's book and implement that strategy in your 401k. 

For examples, if you have over $250 million in multifamily FHA loans, extra stringent requirements will apply.

Now I need to find a good deal on a house so I can implement your system!

@Steve Vaughan that is a great point and I will definitely implement right away.

I've just recently gotten started in the biz, and I'm working with a 10-year wholesaling/rehabbing vet applying my strengths where his don't reach — systematizing, scrubbing leads, planning/executing marketing and implementing CRM solutions —in return for an apprenticeship of sorts.Together, we've wholesaled two properties in the past two months - my first two.