If the tenants chose to leave they must give a 30 day notice prior to leaving.

Just put money there and leave it.

At the time, I had no idea how to set up a system for long-distance investing so never pulled the trigger.Now that I live in the Midwest, I am interested in building a real estate portfolio to help with retirement and to leave a legacy for my kids.

I was all in at $140,000 (including reno and closing costs) and am working on refinancing $50,000 back out of it at the moment which will leave about $90,000 in the property.

Leave the %'s to the Stock Market.2 - Makes you think a bad deal is good, or just as bad...3 - Making you think a good deal is bad.I know, it's "just a general rule of thumb". 

Raising rent isn't going to make them leave as long as they aren't going to find a better deal up the street.

I currently live with my mom who charges me almost 600 in rent and other expenses and I don't plan on leaving for the time being so would it be smart for me to go out and generate passive income and build equity now or just save up and wait?

My attorney friend very much echoes your sentiments though I think it ultimately leaves me with the same uncertainty for starting out.

Many times these people will change their minds leaving you high & dry.

My renter had to leave, her stuff all had to be packed up and she has been relocated, going from one Airbnb to the next, on my dime.