Our mortgage at the moment is around $2100 including taxes and insurance, this would obviously go up if we do refinance.

 Which city in the United States has appreciated the most over the past 10 years?

Quote from @Lillian Pintaro: Hey Guys, I've been in the Birmingham Market my whole life!

But yes, now that we are here, maybe let him know that if things do not get up to date or cleaned up you will go to his superiors.When people are late right at the beginning, I let them know that the behavior is not acceptable and let them know there are consequences to that bad behavior. 

Like others have mentioned, they will come back to you eventually if they can't sell for the price they are looking to move it for.

Hey @Thanh Lu, so if you only have a couple of units, then self management isn't that hard.The key to doing it right is setting it up properly and keeping up on maintenance.I can count the number of late night calls from guests on one hand.

The Real Estate Guys do a great newsletter with lots of high-level information about the economy and how it impacts real estate.  

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

I would make the expense codes mimic the Schedule E if using quickbooks.

I mean come one, there was those out there pitching LP-$ for buying Radio Shack and doing some weird come-back thing with it, and people threw $ at em for it......