So if you can cut that down by $1000/month, it's like making an extra $1000/month.

I'm probably just going to keep the communication channels as open as I can, and encourage them to send whatever they can as they have some extra money.   

Interested in investing a little extra $$$ on the front end with the hope of getting higher quality tenants and fewer maintenance headaches. 

@Mackezi SpearIt’s won’t be too big a project to take on, as long as you have an extra 20% of a construction slush budget tacked on.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Plus, getting the extra three years is only going to cost you around $75 per month which really isn't much.

Sorry to bother you guys with my mistakes but in August of 2019 I loaned 50K to my wife’s sisters husband, he was supposed to return the loan in November of the same year with a $5K extra ( so 55K total) that Didn’t happen.

We allowed the family an extra 4-5 weeks to move out and then we started the renovation.

Seeing the numbers and the math makes refinance a little bit more clear to understand.So pretty much, the new 154K loan that we receive is used to pay off our original hard money 140K loan, leaving us with a little extra cash (14K) for ourselves.

I would allow their lease to expire and replace them with new tenants if they are unwilling to pay the increased amount, which at an extra $300/month I highly doubt they would.