I think this could increase our cash flow to ~$1,400-$1,600 a month.What would you recommend?

Or is best strategy to sell, capture the equity, and buy a new construction home with profit from the sale?

As a new member of this vibrant community, I’m thrilled to share insights, gain knowledge, and connect with fellow real estate enthusiasts!

The latter process would take more time (due to capital generation from other sources), cash investment and end up with much less capital appreciation over time but would also carry much less potential risk. 

Any tips on how to identify markets for long term rental income?

I am a few years away from buying my first house, and am wondering where to save up for that.

I encourage you to search in the forums, connect, and learn about your market. 

He has not paid October's rent and I have not heard from him since Mid October.

Between the walls where spirits dwell,I offer choices none can tell.To dwell today and own tomorrow,A future free from spectral sorrow.A chance to claim the haunted keep,What hidden pact do mortals reap?"

I’ll try to keep this as short as possible I have a pretty good tenant staying at my guest house month to month.