Hypothetically, if he didn't pay the $10 by the 5th, he would owe me $60.One one hand, "it's only $10" and a $50 fee seems excessive, yet I have a late rent policy that I strive to enforce in a consistent way and if everyone shorted me by $10 or $20 my returns would reflect that. 

There is a gal in Atlanta that lives completely off these - she teaches continuing education credit courses on leasing to agents & pairs up with the top agents in her market netting 10-30 deals a month.Some people buy leads, or pay for marketing (ppc/adwords, content marketing, SEO, - I would avoid this until you have 200-400 doors & even then I'd be very cautious (avoid anything with lengthy contracts).Online reviews trump marketing - create a proactive process to get consistent reviews online from your tenants & owners - the leads you get from review sites will take half the time to close and your close rate will be more like word of mouth.

Blog Commenting & guest posting are hugeon  and on....................There is so much you could do, but whatever you do, Be consistent!

I've consistently used email, text, and phone although anything in writing is preferred (email or text) especially when discussing problems, repairs, etc.

Or, you will have to rely on the one assessing the value, like an appraisal, but that rarely happens just to buy a note.Do you buy a used car from a dealer, just rely on his assessment and say I'll take it, deliver it to my house?

I moved to Michigan almost 6 weeks ago, so I'm looking at the market with very fresh eyes.Listening to the BP podcasts, I'm surprised at the unilateral position that Josh and Brandon consistently weave into their podcasts that investing in Detroit is to be completely avoided.

Maybe 1 or 2 students in my experience delivered their rent in cash.

If your principle paydown is fluctuating by $25-$40 each month but not consistently increasing, then it sounds like you don't have an amortized loan.

By using stock colors the consistency will be the same.

I just used the option only when I first started for a cash price and seller was to deliver property with clear title, and free from any encumbrances.So I exercise that attached agreement, but if I have found problems I create an amendment to it with the new stuff and if the changes are deal breakers I just keep the option going until it expires, who knows I may find a buyer who wants to take a shot.Now in a lot of my options I include a clause that upon payment of a certain amount I can extend the option date by so much time. and in one case I did that after I was lucky enough to sit at the table next to the wife of a guy that was desperate to buy that property.