It was built on or about 1899. 

Lots of equity built into this deal just on day 1 and getting better as time goes on Lessons learned?

They weren't built for smaller landlords like us.

You can hear real-world examples of how others have built their investment portfolio and (hopefully) learn to avoid their mistakes.4.

I built into my analysis of each property monthly deposits into that account to cover those contingencies.  

One became an enterprise, one became a veterinary office, one got demo'd and had 10-15 townhomes built on the property, and there is one in my neighborhood that has been for lease for a couple years now and still vacant (not sure if the owner is really just land banking it, since he owns the adjacent property too, a former medical supply store).All that being said, I do not see this property as being something that will be easy or cheap to re-lease.  

Also, because the house is financed, you now owe less on the property and therefore have more equity built into the house!

Porch floor, painted foundation exterior, bathroom ceiling.

Have built a couple dozen homes since my early 20's, on the side as specs and for us personally. 

Built a great business flipping and selling houses.