Leveraging where I could.Take advantage of this high market and put your money into an asset(s) that is valued as a business and not subjected to the sways if the market.It will also make your life more manageable with a w-2, free up a lot of $ and reduce your tax exposure as you raise those kids.Locking up all of that cash makes that $9-10k not as appealing for me.

You can use that "loss" to reduce the tax bill on other income from W-2 or rents, up to a certain amount in any given year.Paper loss?

If you had an apartment building designed for student rentals, I may change my mind, as on a macro level it could bring in better students which may reduce maintenance/damage/issues.

The BRRRR method is designed to help investors limit/reduce their out of pocket expense. 

If it's sitting in a business account can colleges look at that money as accessible cash a college might see as accessible money which in turn would reduce college grant money allowed. 

Thanks again for the help, jumping in to the game can be very intimidating but the BP family sure does ease the anxiety.   

If you can't sell it within a few days to solid buyers then your price is probably too high and you can reduce it. 

I started a website laying out my systems hoping to pay it forward so those could learn from my  mistakes and not experience the same thing.I have found that "really" treating the houses like a  business with a 14 page lease and being super specifics has reduced a lot of problems.

If you didn't have a partner, i would suggest to definitely apply your commission directly to the deal by reducing the proceeds to the seller.

This will reduce your rental income and may even generate a rental loss.The article below provides a good overview.http://www.nolo.com/legal-encyclopedia/tax-issues-when-renting-out-room-your-house.htmlCongrats on the first property!