I'm definitely the "play it safe" type, which is why the buy-and-hold strategy appeals to me, and because this is all new to me I want to "start off slow", but I am open to hearing thoughts on other options I could consider as well.Put simply, if you were in my shoes, what would you do with that capital and now with one property under your name (if buy-and-hold is the most appealing strategy to you)?

v=JrYtD7gSWsI I think this owner needs to screen his renters a little better, And fix that hole in the wall.

I leaned doing business in Texas everyone surveys before closing. out in the west we rarely do that unless its acreage or some other special circumstances we simply would not have enough surveyors to keep up with resi transactions in a timely manner.. but I can see in Texas were the land use rules and no building codes or lax ones and no licenses required years ago.. that you need to do this.. you opened my eyes on that one. 

I figure that everyone has a cellphone these days and if a guest drops by then they can simply call the tenant when they have arrived to be let in.

Or would it be better to simply partner with them, they are friends of mine, with the repairs for a percentage of the profit?

Now we can get to your comment on the last paragraph; I simply asked a question and asked for advice from the community.

Simply having a bankruptcy in the past doesn't mean that the tenant won't pay the rent.

The guru's that promise to teach you the secrets are often packaging generic information and selling it at phenomenal markup to people that want to get started but often do not have the resources to start and the fee they are charged simply puts them further behind. 

And if you simply have a passion for music, I'd be delighted to make your acquaintance too! 

It's my understanding that if there's a "partial exclusion", I'd use a Form 8949 with Code H...And if it's "fully excluded" and there's no 1099-S issued (which I indeed received no 1099-S), then I'd simply not mention it at all.But my biggest question is....