Hi All,Reaching out for some help.First time landlord, 6 months into taking the keys (live in landlord--4plex and I live in one unit and rent the other 3), I have my first tenant who is late on rent.She texted me this afternoon saying she won't be able to pay until Monday or Tuesday.For reference, when we signed the lease she asked if there was a grace period on late rent, and I said no, and that it would be $25 late fee for each day late.Any advice on how to handle this?

When I first bought the property, I had $20,000 in equity, so my ROE was 27% annually [(450x12)/20,000], give or take since it's changing monthly as rents and equity increase. 2 years later, that property appreciated and I now have about $65,000 in equity and it rents for $1250/month and cash flows $500/month.

I have lots of appraisal stories but getting a low appraisal and then selling it a week later for about 30% over the appraisal.

Hi BP community, recently I heard about this transient tax that needs to be paid (I supposed by the landlord that later will charge the tenant) if my tenant wanted to rent a property for less than 6 months and 1 day.

Should I be saving my conventional loan options for bigger purchases later? 

I am also looking at maybe taking classes at a community college that will be useful for my business later on such as marketing, accounting, property law ect.

.• A significant increase in space availability stands to place downward pressure on average asking rents in the months ahead, but a strong employment recovery will counteract this trend later into 2021.• Post-pandemic, tenants are expected to maintain an emphasis on both work flexibility and wellness for employees, including modified in-office work schedules, continued work-from-home arrangements and access to greenspace and outdoor workspaces.

Just learning for now, I'll reach out to some banks to figure this stuff out better later once my head is more on straight.

Probably be thankful for them leaving versus causing issues later on. 

Heck, if rates are going up it makes sense to lock as much as you can into low rate notes sooner rather than later