@Keith RichardsonIt depends on your risk tolerance and ability to stay organized.

Agree , those are all incredibly important as is good property management and the ability to price the property correctly based on your competitors rates( dynamic pricing ) . 

Then determine your burn rate, days between call to cash, take down ability and average profit per opportunity. 

In the time you've had this tenant, have you or they had any conversations about their actual ability to pay?

A terms sheet will tell a pro whether you know what you're talking about and give them a structure of the deal you propose, but it won't establish credibility with respect to your financial ability to pull off the deal.

The problem with selling is a lot of that equity will be lost when you sell it either through taxes or payments to your listing agent.If you ever have the ability to limit these types of fees and still be able to use your equity to fund additional purchases I think you should.

I have the ability to cover all the expenses if there is vacancy, which this property has low vacancy.

However, after seeing what we could offer in terms of amenities, location and service, they happily paid the premium rent associated with renting from us.I am not a natural salesman, but reading books on marketing, sales and hospitality has greatly improved my ability to convert a lead.

It was a significant milestone and ignited a newfound confidence in my abilities as an investor.

A desire and ability to share their knowledge4.