Research market rents, carefully calculate expenses, and ensure you have a solid lease agreement.

My advice is to tread carefully.

I was interested in something like owning a rental property as a way to generate some additional income. 

A few years ago I stopped coaching, I sold my print marketing company (Yellow Letters) to care for my wife.

Why hasn't your property manager already answered this question?

So the property owner can never sell?

Just cause they make a lot of money doesn't mean they can afford to make mistakes.It's usually these types that are the least careful about their money. 

Use tools like the BiggerPockets calculators to run the numbers and ensure the properties align with your investment goals.## Financing OptionsFor Hard Money and Private Lender financing, it's crucial to build relationships with local lenders.

The tenant wants to stay another 2 years.My other adult properties have often had long-term tenants.

It seems like you just really wanted this property so you let your emotions drive your offer.