If they do decide to let it go, it usually indicates that something significant is happening.

For instance, if you are renting homes at $2,200 per month and decide to raise the rent by 3.99% (bringing it to $2,287.78), the likelihood of tenants moving out is generally low, especially if the market supports that price.Best of luck in your property management journey!

From here you could decide if you want to stay on the passive side of things as an LP, or if you want to begin raising capital for your own deals / funds based on your track record of investing with other experienced operators and being part of the masterminds that you're in.

I'm going to hold onto the property and give it at least another year before I decide to emotionally sell. 

It was our primary a few years ago and we decided to sell so we could escape the capital gains tax.

If it's currently zoned for mixed-use, you want to check with the town on what can be done there before deciding what to do.

Our cleaning fees for the year were $40k, landscaping $2.5k, handyman $3k... all tasks that can be done by an operator and off set the loss of income from occupying the main house that brought in about $40k for 2024.My wife and I have decided that even though it makes good money, we have been in Texas for a year and we want to do something similar here and we are very much DIY people and don't want a PM company to run it to the ground.

If you buy a deal that makes sense at market but then you decide to take Section 8 and rent it for more, that is icing on the cake.

If we do decide to do this, is it just a matter of getting it put into writing or is there more to this?

I was feeling paralyzed making decisions about what to do, and no joke within 3 weeks of finishing this book I had decided on my next step and was under contract on my first flip property!