Most PM software allows late fees to be charged.Ours allows us to absorb the cost of tenants paying electronically thru the software - it usually wants to charge tenants, but we want them to pay electronically.We manually charge tenants a Processing Fee for mailing in their rent, a slightly lower Processing Fee for depositing to our bank.Your success will depend on the Class of your tenants.

Is the property on the mls?

Peter Lohmann’s newsletter is a solid source for staying on top of national trends; I’d recommend subscribing if you haven’t already.In Texas, I’ve noticed increased activity, especially in the Dallas-Fort Worth area.

You are bold for taking on a non-paying tenant. 

So many dependent on government.

Pre-construction homes, which could build $50-60K in equity within a year or two.I can afford a 20% down payment, but I’m torn between focusing on equity (pre-con) or cash flow (resale).

Hey @Nike Onyechi - Not sure...but maybe it was @Tom Shallcross who was on the podcast somewhat recently, a value add investor, and chicago broker.

**As investors, you are closest to the consumer (home buyers/renters), so you tend to absorb costs and reduced profits from unexpected spikes in expenses that wholesalers or contractors pass on to you!

Great tenant that always pays on time - been there for 5 years Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

.🔑 More experience = More access to future opportunities.If you sit on the sidelines waiting for the perfect deal where you control everything, you might be missing out on great future partnerships.5.