I would totally agree Mr Turner training videos." electric, heating, water and trash "Consider :~~~~~~~~~~~~~~~~~~~~~~~~~property insurancetaxesoutstanding work need on propertycurrent rent versus market rentExamples :~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~property collects $987 per month in rent50% rule -> 987 times .50 equals $493.50 < - tenants pays unties60% -> 987 times .40 equals $394.80 <- owner pays utilities$493.50 minus mortgage / etc equal you Net operating income / mth$394.80 minus mortgage / etc equal you Net operating income / mth2% rule3000 monthly rent divide $89000 purchase price equals 3.4%Good luck

How do I deal with things like late fee policies, collecting rent, etc when they've already signed a previous agreement?

Finally having time to perfect my Ballroom/Latin/Tahitian skills and doing performances or competitions like I've always dreamed =) Opening up my quality second hand clothing boutique so I can pick and/or trade my clothing whenever I want.

There is another twist, she is collecting the $3,900 a month, so if I come in here and mess up her cash flow, she is not going to be a happy camper.

I'm assuming even if you find who did it, they won't have money to collect damages.

I would be careful using it as a weekly rental unless it's someone you trust because you could be stuck having to take someone to court and not being able to collect rent for a couple months depending on what the laws are there.

It's rented now and we just collected our first rent check.

OTOH, if one of you puts up 100% of the cash and the other one manages the property (screens tenants, deals with issues, etc.) then I'd say the one doing the management should get the PM's fees (typically 10% of collected rent plus half a months rent to fill a vacancy) and the other should get all the cash flow.Partnerships are fraught with problems.

I'm looking for a cheap way to collect rent online directly through my website.

You could add some for your trouble of having to collect twice per month and ask her to pay $ 475 every 2 weeks, according to her payment schedule.