My wife is very gun shy about using our money right now as we have 1 child graduating college next spring ($500mnth right now) and a junior in high school.

These were a mix of wholesales, wholetails and flips.2015 - I quit my FT day job in May of 2015 right before my 2nd child was born.  

we recently had our first child and my wife in interested in staying home with him.

I don't really care what you make "gross" when you pay out half of that in 401K, medical benefits, alimony, child support, blah blah blah.

The tenant has hardly ever paid the full verbally agreed upon rent of $625/mo during the five years he has lived in the home with his girlfriend and her child.

I'm a new real estate investor myself, thought I am the child of a successful investor as my dad has lots of rentals and has always acted as the property manager.

I'm in the hospital with my newborn!

Even if you have a perfectly legitimate reason (bad payment history, property being sold, owner letting a child live there, etc.) you still have to deal with the complaint process and investigation, and the possibility of other charges being made against you if other things come to light.

Perhaps he needed a signed lease on an apartment in order to get his child registered for the coming year, but does not actually feel the need to occupy it until the school year actually begins?

Tenant did a runner.My second example is a current tenant, young waitress with a child, my wife took pity.