Once you make your selection, tell the prospect that you will continue to market it until they give you the signed lease or the holding agreement.

Now, pay me a refundable HOLDING DEPOSIT of 1/2 my Security Deposit Fee.After the physical OPEN HOUSE is complete, I will make my selection by close of business on Monday and let you know same day. 

I also watch Earnyourleisure as well and some folks believe the effort on a lower deal can be put on a higher cost deal and be more effective.

Here's a few quick tips for you...Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

If tenants were effected and couldn't pay rent as a result of contracting coronavirus no evictions.

Add in the services of a transaction coordinator (~$400) to help with paperwork and IMO it's the most effective use of your money with the least amount of work. 

As the income grows, then explore the S election angle if you notice the NITI tax taking a bite out of your income. 

The Recorders office collects various fees and how the fees effect landlords as we do multiply transactions.

And as soon as you do, the tenant is off the hook.And hopefully you never want/need to sell the place while that lease is in effect because not many buyers are going to want to inherit that lease. 

Here are some recommendations for you:Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: https://www.biggerpockets.com/podcastIf you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.