I recognize there are other ways I could invest this cash (including another property) but I am being mindful of levering myself out too much in the current environment where job losses are more common in my industry (tech).

I would send a lease violation notice that advises the tenant that they have violated the no smoking provision of the lease and that it needs to be cured immediately - to include complying (not smoking) and remove any odor/damage that may have resulted.

Do you include a website on the mailer, or just a phone number for the seller to call?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

It should be included in the monthly management fee. 

Many billionaires and celebrities own property there, including lots of Americans.The infrastructure is top notch.

There are plenty of resources online including anderson youtube channel, few other sources are :https://wcginc.com/kb/ and https://wcginc.com/fee-structu... -- They have fixed fee structure to compare with anderson advisors without any blatant selling tactics https://www.kbkg.com/" class="redactor-autoparser-object">https://www.kbkg.com/https://go.empiretaxusa.com/61...If you attend any tax-wise or other 3 day events with anderson which costs $197 + travel expenses you will get enough knowledge on how they operate and you should be able to understand what LLC structure is beneficial, also they have a large collection of online videos with plentiful of information on youtube and tax tuesday webinars.

I would keep detailed records of my deals to include photos that I could use later when I am approaching a potential funding partner.

It's going to offer Strong economic growth, Appreciation (especially in DFW), Tax advantages (no state income tax), and a Growing population, including infrastructure and amenities. 

Include all expenses like property taxes, insurance, maintenance, and property management fees if you’re not managing it yourself.Network Like Crazy: You’ve already made a great first step by joining this group!