Property Info:3 BR / 1.5 Bath / 1200sq ft Bought in 2017 for $163500 Down payment of 5% + $3k in closing costs30 yr FHA loan @ 4.375% Remaining Principle Balance: $145kMonthly rent: $1500 Vacancy: it’s never even had to go to market to fill, but I’ll say 1%/mo just to be safe Cap Ex: I bought it freshly renovated, but I’ll use 5%/ mo to be safe Repairs: 5%/mo to be safe, but in 3 years of owning it I’ve probably spent $100 total on repairs.

I'm not a lawyer (do contact one), but if I owned a home I would either not hire a tenant at all, or pay them hourly and NOT keep them "on call" or anything else.Discounted rent as wages (think "company store") carries significant recordkeeping requirements, and yes there are people like me who are well aware of them and have lawyers ready to educate landlords who disagree with us, and their money is no object.

Property managers use regulation-compliant lease agreements, not a generic form from a stationery store.

It would cost me considerable time and money to move and store the junk, not to mention concerns with trash and bugs.What are my options?

The second card i got was the tangerine cash back card that pays 2% cash back on recurring bill payments, drug store and restaurants.

Maybe the unit renting for $800 has fresh paint, new appliances, etc.

Again, the BiggerPockets store has some books for this or you can learn by watching podcasts, reading blogs, and interacting on the forum.

You slap a small farm on that property as well and have a small store right there on site and boom, another cash flow source to the property.

I assume other big box stores have similar deals.

The point is that distressed areas have such prices because it is difficult to invest there, and areas that appreciated the most rapidly may well have peaked to unaffordable levels.I saw a podcast recently where it was claimed that high-end grocery stores like Whole Foods Market and Trader Joe's are a good indicator of a high-end neighborhood.