Thank you for the reminder about the financial buffer!

Those are pretty decent numbers.Remember property taxes get re-evaluated every year and can go up every year AND they are kinda high relative to other states.Neighborhoods matter.

It sounds like you've been more than understanding and accommodating with your current tenant, but it seems that her financial struggles and consistent late payments are creating ongoing issues.

Learning how to properly evaluate a rehab budget is imperative to your success and there are many books and posts on this topic of how to do it - I have posted many on this topic in the past.Don't forget on your list windows/doors, trims (baseboards and door casings), waterproofing/protecting floor of garage, potential need to frame/or upgrade farming of exterior walls of garage (many garages have stem walls) and the flooring is often sloped to garage door so leveling the floor may be necessary.

It's easy to get stuck in analysis paralysis - the key is creating a strategy that aligns with your goals and lifestyle.Then, you can start defining what an ideal investment property looks like in terms of returns and property types, allowing you to evaluate opportunities that fit.Good luck!

Focus on properties that align with your financial independence goals and be prepared for market fluctuations.Your strategy of balancing cash flow with capital appreciation while aiming for financial independence is sound.

While this has served me and my family well, it has not allowed me to become financially free. 

Quote from @Mitzi Cil: Has anyone ever worked with Rehab Financial Group?

@Cloey Green there are so many different ways to think about and evaluate markets.

@Craig A.As others have stated your father should be working with a financial planner for tax strategies, investment advice, retirement planning and estate planning.