Late fee is considered reasonable if it is not more than 12% of the rent for the rental period under the lease for a dwelling located in a structure that contains not more than four dwelling units or 10% of the amount of rent for the rental period under the lease for a dwelling located in a structure that contains more than four dwelling units or the late fee is more than the applicable amount but not more than uncertain damages to the landlord related to the late payment of rent, including direct or indirect expenses, direct or indirect costs, or overhead associated with the collection of late payment.A late fee may include an initial fee and a daily fee for each day any portion of the tenant's rent continues to remain unpaid, and the combined fees are considered a single late fee.

I'm particularly passionate about rentals and modular housing.Outside of real estate, I enjoy flying small planes.Excited to learn and connect with you all!

There is rental income insurance but I believe that’s usually for when the property becomes uninhabitable. 

The loan was originally based on long term rental value.

My original plan was to update and flip it , pay off the heloc and use the profits toward buying my first rental.

.: Quote from @David Leggett: The Cleveland market hasn't been well known for appreciation over the last 20 years and has mainly been a cashflow positive rental area, but my clients who bought with my pre-2020 have seen their properties go up 20-40% in some cases so you never know what can happen on the macro level that can affect prices and make markets more or less appealing. 

We were going to buy this as a rental prop.Thanks!

The first approved applicant is offered the rental and I give them 24 hours to pay the deposit and sign the agreement.

Has anyone experienced pushbacks on short term rental licenses in unincorporated Miami Dade County?

Now I have an investor who's been paid, and a renovated rental property with a tenant that I haven't really put any of my own money into.