You take your one month hit and then poof, you are making market rent with only a $400 loss and the new tenants are thrilled. 

Set you expectation, that it won't be rented until mid-Jan, if it rents quicker, you'll be thrilled.

The reality is, tenants who have been renting from a loose landlord will probably not be thrilled when you show up with a lease, security deposit and bad news for the hair salon, but welcome to being a landlord :-) Prepare yourself for the worst and you'll always be presently surprised. 

And I've had major health issues lately so I haven't had any income to buy another property anytime soon.I can't wait until I do though - honestly, looking for an income property to buy was one of the most thrilling and interesting things I've ever done in my life.

I know the beginning is a heady combination of thrill and terror, so just breathe. 

Many people, including investors, would be thrilled to have built-in at-closing 26K equity on their primary residence.The bigger question is... do you want to live in this house for 5 years?

South Lake tahoe, by the casinos, has acres of garbage C duplexes...1 mile from million dollar homes...

I was thrilled with it at first and just pretty happy currently.

He is thrilled to partner with me 50-50 on his leads in exchange for my prior experience and knowledge (albeit I'm still learning myself), and I was thrilled to have someone bringing me leads. 

I'm not finding a whole lot of deals that I'm thrilled with where I live (Maryland/DC area), so I'm not buying as many as I'd like.