Like children, If we only talk punishment, but never do it, they know they can get away with violating the rules.

@David Dachtera that's a good point about offering a reduced rate for early rent instead of punishment for late rent.I charge $50 or 5% of the rent, whichever is greater.I used to charge a flat rate and then a daily increase but stopped it.

Again, your time horizon is the key here adjust with that in mind.The timing is impossible you can look for signals but still hard to pick the bottom.So, for me I pick companies that have good balance sheets just because a company has gone done does not Mean buy it, could mean it is on shaky ground could roll over and shut down.So, I pick blue chip divined stocks that have low debt good business model.If you are not going long then good luck this recession may be short or could drag on keeping profits low and sluggish, punish the stock.

In order to evaluate whether this is an opportunity for profit or for financial punishment, you need to know where this building falls in comparison to other rentals in the area.

The seller knows what he did- now it's time to punish him for it!

These will go away into eternal punishment, but the righteous into eternal life.”

Older houses can handle tenant punishment because they were built when there was pride in the quality of construction.