Also you want to communicate (not necessarily in lease) a time period in advance of extension that they have to extend lease by or take their chances on loosing the unit.

Returning to the 15% cap rate, your monthly collected rent will have to be more than 2% of your as-complete property cost.

A potential section 8 tenant applied today who is unemployed, with $5K in collections from various companies and a 580 credit score. 

⏰This might be the most dangerous advice in estate planning.Here's what most practitioners miss: 📚While everyone focuses on the 10-year NFTL expiration, the IRS has a nuclear option hiding in plain sight.Under IRC §7401, the IRS can file suit in federal district court before the Collection Statute expires and convert your "temporary" tax problem into a renewable judgment lien lasting 20+ years.The timing game becomes Russian Roulette with a countdown timer.

Quote from @Michael Gonzales: Cleveland Buyer default after extension — enforce EMD or keep waiting?

I prefer reliable lenders who hit dates over a slightly cheaper quote that risks an extension or fallout; a thousand bucks saved is nothing if you lose the deal .

It also has a bunch of really unique benefits/tools for your rental portfolio (Lease Indication Tool, Expense Tracking, Maintenance Requests, Rent Collection, Tenant Communication, etc.) in one central place.

I've written extensively about this topic here on BP.Good luck!

They collect tenant owed fees and management fees on uncollected rent from owner funds, then make no attempt to collect the amounts from the tenant.

This property had been damaged in a fire, then another tenant's unit caught fire a few months later.Right now I'm working through extensive rehabs.