Does anyone have any recommended verbiage in regards to Attorney and Collection Fees that I can put in my lease and or rental agreement?

I do have steady tenants leased it is leased until Oct.

That way you don't run into the situation of a tenant contacting you one month before the lease expires and saying, "we're moving the end of the month, you already have that deposit, so just keep that to cover the last month's rent".Good luck.all cash

They signed their 1 year lease only at initial occupancy.

There are some ways to create or overcome no equity - short sale, lease option, owner financing - but I wouldn't necessarily recommend jumping into any of those with this property on your first deal.

Its a great read for learning the basics of financial management.There are ways to make money in real estate with little or no starting capital - wholesaling, birdogging, lease options, owner carries, and contract for deeds - but understand that unless you learn to be diligent and disciplined with what you have now, then when you do get more you will just be broke at a higher level.

Being successful at rehabbing requires extensive experience in multiple different areas.I would rather recommend focusing on ways to build up some of your capital and learn to swim in the shallow water before you jump into the ocean.Wholesaling, birddogging, lease options, subject to's, contract for deeds, and owner financing are all ways to start with little or no capital.

Leasing out will only bring in 1200 or so a month.

They tried to convert an old motel into condos, and after they wouldn't sell they started leasing them out.

THen lease/buy to tenant with % upfront and monthly payments with small amnt allocated twds the sale price of the house?