I was looking yesterday at the out going money of rentals and how much we will need to put back the first year of ownership for anything that we owe or could go wrong with a SHORT TERM VACATION RENTAL IN PANAMA CITY BEACH , it looks like if we find a turn key rental we need $11,000 to stay afloat that first year

Take LOTS of photos to document conditions after any rent prep is complete, and document any material discrepancies on the Condition Form, which new Tenant signs at the walk through and gets copy of.Also, be certain you have the move-in Condition for the outgoing Tenant to document and compare the move-out condition and process SD properly and timely.

Easy to get in to business hard to get out.  Go

IRR factors in the time value of money, and provides a much more nuanced way of accounting for cash influx/outgo at various points in time.

As one or two people move out go renovate the unit and see if you can maximize the income.

Just happy to have it sorted out going forward.

So far the tenants are just getting their build-out going and they seem like they're going to do well. 

I do agree though that since I am just starting out, going to the court house is my best option.

Roommate 2 is extremely outgoing and eccentric. 

I only use my cell for out going calls and for my wife to call me.