Then look at getting another job that has some flexibility and you don't hate but still covers your bills.

Since we both had our own rentals, we both have very flexible schedules, and we had the extra money, growing our real estate business was a no-brainer. 

If you have flexibility or don't mind being a landlord longer term, this is a good strategy.

@Mahab Hoque If you're going to use the money for more investment properties and you know it will be tied up and don't need the flexibility of a line of credit - refinance. 

Credit cards offer a level of flexibility that few debt products offer. 

After speaking to the owner, I knew that she was flexible on making a deal.

This way I am fairly compensated for my time and effort, but also allows the tenant flexibility that they are not stuck somewhere they do not want to be.

You might like living with a family - who just might be stable long term tenants, or you might like the flexibility of individual tenants, possibly younger ones.

Penalties can stack up pretty quickly, so if you do decide to go the S-Corp route, I would recommend moving forward with the election sooner rather than later and completing your 2018 payroll asap.That said, if you have flexibility to push closing, you should explore that.

But getting the right property manager will scale to every one of your future properties; a good tenant you have to find over and over again.If you live nearby and are a bit flexible, I highly recommend trying it out yourself.