I feel 1 month security $ 3200 would cover it as they are the perfect tenants to date.2) some sort of 1 time gift card/wine basket/local store gift3) Offer no rent increase if they lock in and renew for 2 yearsAlways thinking of a Win-Win situation so leaning towards Option #1 as this costs me no money but gives them up to $ 800 that they didn't have.What do you all use as an incentive to keep good tenants ?

However, I don't want to put all of my eggs in one basket, especially since I have only had correspondence via email at this point.

However, I don't want to put all of my eggs in one basket, especially since I have only had correspondence via email at this point.

You never can tell: especially when the property is free and clear.You do not have to put all your eggs  in one basket, continue your marketing looking for other out of state owners - some will, some won't. so what (SW, SW, SW)... next.Wishing you all the best of luck

All of this is the fruit of action.

That means you're likely putting all your contracting eggs in that basket, and if for some reason it doesn't work out with your FIL (too expensive, low quality, too slow, etc), you won't have the experience going out to find contractors and will likely make some bad decisions with respect to future contractors.Think of it this way -- 90% of all contractors aren't going to be good choices for rehabbing/flipping houses. 

Hence, as mentioned above, I look forward to both contributing to and learning a lot from you guys as it will make our experience here very fruitful and memorable.

I look forward to fun and fruitful interaction with you all.Graham

He does not screen tenants & gets the low hanging fruit.

They seem to think prices of properties will start to drop.So if you can rest (3 jobs at break neck speed can cost you health wise) plus you want to live to see the fruits of your labor and start looking around in 12 months you might be in better shape to make serious moves.Just a thought.Good luck in your investing!