If you want to grow, I'd recommend skipping the rental property manager and move on to something else, because you will outgrow it and need to learn a new software.

I would skip adding the bathroom and lower the selling price.

To hedge your bets I would include some obscure line in the guarantor form about reporting to credit agencies and parents will pony up the cash even if students skip out.  

So, that averages out to about $3800 a year in just that, plus there were some smaller repairs in between.The tenant after that skipped out on paying a month's rent and getting it ready for the next tenant cost me $2500 out of pocket (including court costs for eviction.

For this reason, I sort of want to skip the primary residence ideas and go straight into a commercial investment (more cash flow and fewer roofs to fix).

Thanks for sharing your success...I hope to skip the beginner mistakes by asking tons of questions and good luck on your next investment.

We find that rent does not move much for a garage, dishwasher or central air so skip them to keep investment and capital replacement and repairs lower. 

If you hold the property for more than a year you skip out on paying capital gains.

If you haven't gone that route yet, skip the LLC and go SP. 

or does it useually just start at the 40,000 and skip 20,000, 30,000 etc?