Under the $100k property example, something as common as having to replace the sewer line will put you under water and you are more likely to have to come out of you personal reserves to cover operational/cap ex expenses or debt service than in my $6M loan example.Remember cap ex and operations are normally more easily absorbed in the A location assets.

Also, consider living BELOW your means as you clearly overspent on your primary residence which is a common scenario unfortunately. 

This is a fairly common situation.On whether you should "let him go" or not, the question is, are you going to hold him to the terms of your lease regarding early termination or release him without further rent or early termination obligation. 

Zillow is very common but beware that a lot of these sights don't give you vital information and only give you a "Renter Score", not an exact credit score or other vital info.

Quote from @Peyton Culberson: Software is a common question on BiggerPockets.

So any advice would be extremely precious for us to leverage some past lessons and experiences from the veteran investors here to reduce our risks of investing.

I think it is common to analyze deals and see negative cash-flow, BUT what are you analyzing?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

This is exact kind of common sense and creative underwriting we practice.

Over time, Section 8 rents did not keep up with market rents for my properties, so I slowly converted them to market tenants.Pros of Section 8:You are likely to have families as tenants, so it is more common to have long-term tenants.These are lifelong renters, so you don't get calls for stupid stuff that really should be tenant's responsibility.Most are used to slum lords, so simply being responsive builds huge amounts of goodwill to you.Cons:the biggest one, for me, was the annual inspections.