Fair housing issues, using the wrong lease, inconsistent screening, missing insurance requirements, poor documentation at move in… those mistakes can get expensive fast.Pay the leasing fee once and watch how the pros do it.

I find nothing wrong with break even if 1) the total return is good 2) your leverage is high to achieve this 3) your projection is accurate and includes future cap ex.before the rates increased starting 2022, I actively worked to minimize cash flow (which mostly means I worked to maximize leverage).  

Think something wrong with your numbers.

This is one of those moments where business and loyalty overlap.You’re not wrong to pause — A+ tenants who pay on time, care for the property, and reduce your stress absolutely have value.

so If you take one wrong turn, the judge might throw your case out, and the tenant gets to stay for free even longer.I have a fantastic attorney who specializes in Chicago real estate and knows exactly how to handle tenants.

I’d strongly recommend confirming with a CPA or SDIRA custodian before trying to structure this — the penalties for getting it wrong can be severe.

I could be wrong..

Exactly wrong.

I don’t think you’re wrong - in a lot of cases the only properties that “pencil” are the ones that need some level of work. 

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