Give them back the security deposit (I know that you got the house in a cash auction, but the tenant still will feel entitled to it), set them up with a realtor to find them another house, whatever you can do.

I will happily guide you but if you getting cold feet it's probably good to back out, I consider my self a pretty smart investor, when it comes to buying income property but when it came to buy my personal home I got blinded by other things and forgot that buying a house is a business transaction that you have to enjoy I didn't loose money but I haven't made a ton, like all other investment

However, this is not set in stone.

Would love to get together and have coffee to brainstorm.I love your goal setting and enthusiasm..Best of luck on learning and your future endeavors.

Planning Ahead.The majority of Americans do not have “rainy day” funds set aside for unanticipated financial emergencies and similarly do not plan for predictable life events, such as their children’s college education or their own retirement.3.

Now say the tenant has been sick (perhaps the flue or a common cold) and they live in a meth house.

I have set short term and long term goals to get rid of the debt, I will get rid of most of it in the next year to year and half.

It is not easy to set up this approach but once established it is bliss.

I do have a finance background, do my own taxes for the portfolio we have and believe I understand the fact set.  

Wednesday, August 31st at 6pmTulsa BP Meet Up at McNellie's SouthIf enough people are interested I'll set up the event.