It won't interfere with your day job and you can get into deals for $25,000 or $50,000 so you will be able to diversify by operator, market and asset class. 

Sold it recently to make a nice profit.

If you want to be nice, don't charge a late fee for the rent as she pays it late over the coming weeks.

I believe my property manager does a good job and keeps me informed.

I'm about to use about that much to buy me a nice little 6 unit.

Of course, easier said then done, and evictions and issues/extra expenses pop up, but if you keep the long term vision, it tends to build on itself quite nicely.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

.: Quote from @V.G Jason: Great job.

At first, you won't be able to offset your W2 income with losses, but it is nice when you sell a property at a profit and all the capital gains are wiped out by losses from other properties.A huge amount of tax savings get unlocked if one of you leaves your W2 job to focus on real estate and you get Real Estate Professional Status (REPS). 

Or would you just fix it up nicely and rent it out as it is?