While you can't take forever and a day, because a desirable candidate has choices, deciding too quickly can be disasterous.

From our experience, it is typically within a month of their desired move-in date.

They may change, but do you want to risk your hard earned money to give them chance.

While I haven't remodeled the main house, it's situated in a highly desirable neighborhood.

I get that you want to do this to earn money to hopefully buy your own property and then become an investor.Have you looked into wholesaling?

As long as you stay invested and let your hard earned capital continue to grow, you can pick your spots when a real estate opportunity offers outsized returns comparatively to other investments. 

If so, I'd rather just sell it and not deal with the headache of landlording a property like that and just earn some cash.

I’m sure he feels like he earned that money because of how much time he spent going to different sources supposedly.

Lower-priced properties in less desirable areas often come with higher risk.

The account does not have to be an interest bearing account but if it is, then a portion of that interest earned has to be returned to the tenant annually.