Things like application fees, late fees, pet rent, and laundry tend to be more durable if they’re already in place and collected consistently.

I can't make this up.I have contract on deal ready to go finally get the "COO" as I'm told...and guess what told I didn't have an application with them. 100% won't be moving forward.....I wish you best of luck!

I’d say at least 20% of our tenants actually applied to a different property that already had an application further along so couldn’t get their first choice and we guided them to another one of our properties.

There's a tool called Depreciate'Em that is listed on BiggerPockets Software page(http://biggerpockets.com/software.html)I have found the DepreciateEm.com site to be quite useful.

My understanding is that you cannot SOLELY rely on income, income source, or an income ratio as a reason to deny an applicant. 

You can create boards for each property and track updates, tasks, and improvements visually.Property Management Software: Some users also leverage software like Appfolio or Buildium for more comprehensive tracking, though these can come at a cost.It really depends on your preference for simplicity versus more structured systems.

Use it for accounting, tracking rent payments and tenant applications.

I am in the process of getting a DSCR loan and they just made me sign this:"Borrower or its members (“Borrower”) hereby warrants and represents that they wish to continue with the loan application, that the loan is for commercial purposes and not consumer purposes, and that the loan proceeds are intended to be used and shall be used for commercial purposes only, not for personal, family or household purposes.

I'll add one angle specific to out-of-state ownership in Ohio: make sure your management agreement includes clear legal compliance provisions.Ohio has some landlord-friendly aspects, but there are specific requirements that trip up out-of-state owners:Key Ohio-specific items to confirm your PM handles:Lead-based paint disclosure (pre-1978 properties) - Ohio takes this seriously, and violations can be costlySecurity deposit accounting - Ohio requires deposits be held separately and returned within 30 days with itemized deductionsCleveland-specific ordinances - If your property is in Cleveland proper (vs. suburbs), there are city rental registration requirements and inspection programsEviction timeline management - Ohio's process is relatively fast (30-45 days typically), but only if done correctly from day oneContract provisions to insist on:- Written confirmation they're handling all required notifications (lead paint, security deposit interest if applicable, move-in/move-out documentation)- Proof of Ohio real estate license (required to manage properties for others for a fee)- Clear delineation of who handles legal filings if eviction is needed - some PMs coordinate but don't file; you want to know upfrontOne practical question to ask during interviews:"Walk me through how you handle a tenant who's 5 days past due on rent in Cleveland - what's your exact process and timeline?"

That includes rent, late fees, damages, utilities (if applicable), legal fees, and any lease break costs.No “notice required” clauses.The guaranty should explicitly say the landlord is not required to notify the co-signer of tenant default before pursuing payment.