Wells will spin the file off to a iron hand servicer who is going to watch.You cannot get insurance coverage.

Having cash to invest is a great first step to growing in Real Estate (Ironically, not required). 

I recently switched my investment strategy to buy&hold so i'm still ironing out details but. passing alot of these responsibilities over to the tenant makes great sense and is one of the reasons why single fam rentals will continue to be my focus.Jon,Really appreciate the lease verbiage.

I enjoy the negotiation of the deals the most, ironically, so the more transactions I can do, more fun for me.

motivate' seminar attendees to "be their own boss", "escape the rat race", and "take control of their life" (with requisite slideshow of people enjoying leisure activities that YOU TOO can enjoy) all while belittling those who (ironically) choose the path of fiscal responsibility.Do they parade cardboard cutouts of the pretty faces from the teevee shows on the stage while the excessively tanned guy with pretty hair does his best Glengarry Glen Ross and tells you what a loser you are if you don't fork over the 40k?

You know how to have an iron clad agreement?

Look for old HVACs, roofs, water heaters, cast iron plumbing, bad foundations etc.

If you start seeing people feed themselves while you are only left with some scraps, it's easy to start developing an iron-clad way of doing things. 

Vacancy rates will rise quickly.Maybe you could try an Iron A/C cage on the outside and a separate security deposit (maybe around $300 or so) to cover the A/C.The cages are ugly, but in many window A/C communities the residents understand that their neighbors (and their neighbors visitors) may be, shall we say sometimes "theft prone", and the bars can be explained as break in deterrents to keep their belongings safe.They also blend in better in a light color vs. black.If a prospect balks at the $300 and you want them, you could always offer to wrap it into the first 10 month of payments.

(Ironic given the number of security breaches at the IRS, but that's another story.)