Financial Management:Keep a tight grip on your budget, including acquisitions, renovations, and unexpected costs.

If you want to pass on benefits a renter will appreciate, buy a condo or townhouse with community amenities and included utilities.

Many include videos teaching you how to use them.

It is really important to make sure you fully understand the loan terms, pre-payment penalty, and points being charged when doing a hard money loan! 

Remember: buying the right property the right way is important, but how you manage your rental will really determine how it performs. 

House values in the area have increased about 5% the past year and the Greenville area and surrounding areas are rapidly growing.The monthly expenses (including utilities and 5% for repairs and 5% maintenance) come out to $2,291.

Although it may seem like an easy way to increase equity, it's important to remember that if you are drawing from your own pocket, you will not be gaining anything.

It currently rents out at about a $100 cash flow including expenses. 

I agree, favors are fine to ask but it's also important to respect people's time and not ask too much.  

Tenants will not burn the house down on purpose if you are a good landlord, and hopefully even if you are not, but tenant-landlord relationships are important and landlord is not passive.