But since you are here asking for more than just basic hold steady advice.

It’s been amazing watching the steady economic growth over the last decade and a half in OKC.

I currently have a tenant that has reached out about the temperature in the home being too cold.When I called a company to check the furnace, they did a quick cleaning and said everything was working fine.The second time the resident called about the temperature, I decided to buy space heaters as I thought that would be beneficial and help him out.However, the temperature in the house continues to be a problem from their perspective.When I called an insulation company, they are suggesting over $4,000 worth of insulation costs, which I thought was very high.

For me, it's a slow and steady wins the race approach.

But you can always get creative and try to retain more equity and really market that you are bringing a lot of value with steady tenant for the building.

Thanks for the response, Jon.Here's how I'm thinking about it -- for me, a steady stream of income from real estate > portfolio value.With option (1): I pay off the house, have 10k left over.- To get into a new, $400k house to live in, we could put down 5% with an FHA loan (through my wife) = $20k- If we pay off the house we currently live in, that will free up $2000/mo in expense we're paying towards the mortgage (I look at cutting out expenses as passive income)- In 5 months, that will equal to $10.000 + we have the $10k leftover from the $150k- Then we purchase the new house to live in and rent out the fully paid off house, making $2000/mo in cashflow from it - So, in 5 months we could own a full cash flowing rental property, and that passive income stream we can then roll into our next mortgage.

How do I start investing in the real estate, become properties owner and start leasing same for regular and steady income? 

Most people build their wealthy through hard work, savings, discipline, steady investing.

Midwest is all about steady growth which we have found is the case.

I would have preferred to have tenants with more steady income and record of finances but they had already lived in the house for 3 years when I bought it last year and I decided to give them a chance.Thanks in advance, any advice would be greatly appreciated