If dipping into your emergency fund makes you uneasy, you might consider waiting a bit longer to build it up or look for ways to increase your cash flow on the current property.

The homeowner collects a NET/NET 5% yield with 1% increases each year in long-term lease by a BBB+ credit rated tenant (similar to Morgan Stanley credit).

We have created work instructions for every step of the process so we can maintain consistency in how we evaluate properties, communicate with tenants, market our properties, handle rent increases, manage property turnover, etc..... 

I am thinking to switch to online rent collection from receiving checks in the mail, but worried that receiving 1099k will increase the complexity during tax filing time.

How about the increased home insurance cost for a landlord policy?

Can not go wrong with a rental in Ashburn since the rents have increased so much. 

He tells you to pay him $5,000 (or much more) to learn all the "secrets" that made him wealth, but then he doesn't tell you that his "secret" was to increase earnings, reduce expenses, save up and invest.

While I’m open to both turn-key and fixer-upper properties, my preference leans slightly toward value-add opportunities where I can improve the property and increase equity or cash flow.That said, I’m also happy to consider turn-key options that provide immediate cash flow if they fit within my investment strategy.

Yearly increasing costs will, in time, eat up any profit they have per unit.

Increase your earnings, reduce expenses, save up, and invest.