I only plan to manage these two from out of state until we're able to refinance our second home as we're losing money on this particular house for rent as we bought this home last year. 

We're spending so much money...this better work feeling."

I lost another $1000 in inspection fees but should get back $2000 earnest money deposit.

I think having a balanced budget would be ideal where you allocate money into buying another property and money set aside for renovations.

Unless you are talking serious money, which I would say is 2k or more in excess taxes, it may not be worth your effort.

Well worth the money.

.#2  MINDSET:  Just like some people will NEVER become real estate investors regardless of time, money, related profession, - MOST people will never become real estate investors.   

IE motivate them for money. 

You may not collect anything, but it will sit on his credit report and prevent him from getting a car loan, home loan, or scamming another landlord.

But if I sell it and put that money in the stock market and earn let’s say 8% I would make $40,000 on the same money.