Raise the rent and enjoy the ride!

This is why I asked the question in that fashion.

While I miss out on that first pay day, overall I still think I do better lease optioning the house than renting it out in the standard fashion, and I don't want to have a long term rental with a pool.Here's what I'm thinking:1) Two year lease option at $1400 a month with $200 of that going into an escrow account to help him save for his down payment (this portion would be refundable if he decides not to buy).

Anyway, I was committed to playing the long game because I knew soon the joy ride for them will be over and the desperation they have been disguising with spitefulness would be coming back full circle.

It's not materially driven, which makes it a bit confusing sometimes in a fashion similar to your question here. 

I rent a condo in a nicer area outside Saint Louis, Missouri the property has appreciated about 20k and ive done minimal updating to it in three three years I've had it. I'm only making about 150 a month on the proper...

I don't see it being worth the effort or money to break the lease or do cash for keys just to make this refi happen, just ride it out until the lease expires. 

Also don't underestimate the power of building a good team (Agent, Lender, Attorney) they can be mentors as well as team members and they can introduce you to other real estate investors, meetup groups, or invite you to training's where you can network with other people interested in real estate.Best of luck starting your real estate journey, it is a heck of a ride!

Do I keep it and make 2mm a year or sell and and ride into the sunset with 300mm.

Tons you can learn here from free, a ton of it you have to learn the hard/old fashioned way.