I’d dmanages exceed deposit amount send the ledger to collections.

ThIs helps to separate the “sales“ from the “education“ elements of BP.This post should be fine for collecting referrals, but if you’re looking to get answers straight from the horses mouth I would either 1) make a marketplace post, or 2) message and connect with accountants and bookkeepers directly.Good luck!

PGI--potential gross income- VCL--vacancy and collection losses+OI--other income (internet, etc)= EGI--effective gross income-OE---operating expenses such as taxes, insurance, etc (does not include debt service=NOI--net operating incomeAfter NOI subtract debt service (interest not principal) and then you have BTCF..before taxes cash flow

I have great managers for a multi unit in Hagerstown and all I do is collect the check. 

If collecting rent is not important to you why do you care about a late fee.If it were me I would have served the pay or quit notice the first time she did not pay her portion.

Put it in writing and let them knowing they are out by Jan 15 and leave the apt in good condition with no trash, and pay $xx (say 50% of what’s owed) you’ll return their security deposit and not do anything with eviction or collections.

We paid $22,000 cash for the house and hoping that after a few months and about $10-15,000 in repairs we will be able to collect about $800/month for rent.

Because they normally jump in without knowing how to underwrite, service, and collect these loans, and they lose buckets of money.The market for selling legal and compliant loans is pretty small.

Vacancies will occur, no matter what, for any reason or no reason at all, so I don't let them prevent me from doing business, but if I have good reason to believe someone is going to leave in the dead of winter, I see no good reason not to collect some extra money for that hassle - or let them leave in protest, and find a better tenant that wants to stay until the following spring/summer. 

So I use an app called Tellus to collect rent and also message them.