@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 ) . 

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

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.

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.

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.

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

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

A desire and ability to share their knowledge4.

And those also only have a limited ability at best to generate a balance sheet, which you generally want to include on a 1065 return.came here looking for answers to exactly this question, and David is correct re: why.