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

As long as the location was in the path of progress, and the units themselves had already or the ability to add features like off street parking, in unit laundry, etc. 

While those are all considerations and options you have a license and skill that is incredibly valuable to anyone who wants to transition into real estate full time....the ability to charge for your time.

At the heart of effective property management lies the ability to balance the competing interests of three critical stakeholders: owners, tenants, and vendors.

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

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.

But there is more safety as all parties are notified and have the ability to cure..

It broke day 1, it was fixed day 1, here’s a bill for 75% of what I paid to handle it myself. 

Investors benefit from passive income without taking on any of the operational risks or liabilities, but the model, which is actively developing and innovating, depends on the property owner’s ability to manage the property effectively. 

@Agatha Oliveira Over the last 10 years case law has been established that greatly expands the ability to redeem tax sale properties.