Windows are new, so that has already been taken care of.

Management is impossible to select until you have picked and vetted a firm- while it is an operating expense, you're likely going to pay from GOI...so assume closer to 12% NOIYour vacancy is pretty low, but it's all relative here...I would at least set aside 1-2 months gross rent for an unexpected turnoverIf you can insure a 4-unit property for $150/mo. you have an awesome agentAssuming 50% of your income will go to OpEX is pointless.

Selected tenant is now botching payments in month #2 of lease. 

Tenants have been there 4 yrs and take care of the property - do simple repairs.

I have written about this topic a lot, because its an often confusing and tiring conversation for most.The facts are easy thought;If you want to be hands on and very involved (i.e. reviewing paperwork, interviewing trades, selecting materials, etc) then you shouldn't hire a GC.

You have to be careful with what I call (cap drop).For instance you might see as dark Rite Aid with 7 years left on the lease.

If you having problems now it will only get worse.Sorry.I would not say it’s an “issue”and quite frankly I don’t care what Dave Ramsey says either way because he isn’t me or my situation!

"Application" by date X is a provable event.Actually, I just didn't read the original contract carefully enough.

If you have family who has problems are you expected to be the welfare to take care of them forever? 

So start building a team while selecting a market to concentrate on.