Explain to them that due to your strategy you are not ready yet to sell the property but if they came up with a 10k option payment to buy in 12 months, you can start to re-deploy the capital in another area, while still collecting rent.

I know pictures were taken of the property after the police were in the property after a break-in but when I requested the photos, they told me I would get pictures after the tenant is evicted.At the end of the day, I'm not ready to bail on the property but I'm not confident that this is the right management company either.

Maybe target home owners that are ready to move into retirement homes.

(Everything in RE is not always fun)These are some basic place to start, assessing yourself before you say I'm going to do this or that, you need to know if you're ready to do this or that.If you feel that you are lacking in any of these areas, it doesn't mean you can't work in RE, it means you have more issues to address while learning RE.

When you get familiar with some subdivisions maybe you start doing some wholesaling or at least learn the techniques as they will serve you well when you are ready to buy.What part of town are in you if you don't mind sharing.

Fix and flipping works because many buyers want a move in ready property.

Out of that $540 you're paying:TaxesInsuranceUtilities (at least when vacant)Legal costsCPA costs (or, higher taxes if you try to DIY your taxes)Vacancy (even if just for a week or two during turnovers)Routine maintenance (inevitable, stuff really does break)Make ready costsTenant damage in excess of security depositsCapitalThe 50% number is well supported by large data sets.

The grant deed is signed by the seller in front of a notary and escrow holds the deed until all buyer funds are in and everyone is ready for closing.

I'm ready to start, any advice-anyone?

You're going to deal with turnover costs of getting the current tenant with pets place in rent-ready condition by moving her to the new place, so this clearly needs to benefit you before you agree for her to move into larger place.