Would you be better off selling and purchasing a less expensive property that would require less carry should it become vacant for some period of time?

We're selecting a SW right now for our first self managed unit (the rest are with a great PM company) and we are in the phase of researching all of them.Thanks! 

They were trying to charge over $1000 per night (the rest of the week is in low to mid $400).  

As of today I own 13 doors; 3 of them UD student rentals and the rest in Wilmington.

This isn't 2011-2013 days but many people are stuck in that time period STILL.As I finish my licensing study, I'm very grateful I chose this route as opposed to being a one trick pony.Wholesalers did themselves in by their method of operating.  

.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

I am currently under contract for a property, and my inspection period has just expired.

The violation - depending on your state - will provide a 'cure period' before eviction proceedings would begin. 

I'm <5 years from retiring, so in this time period, I'd like to build a portfolio of turnkey rental properties. 

Hi Amanda,If they are trouble tenant then you should probably provide them whatever the notice period is in the current lease and just have them move out.