Hint, we have a high water table and concrete "boats" do float.

According to the central banks of the world, there is no such thing as a bad investment -- any money spent is good money spent.I think the world should take a hard look at Japan, because I think that's our future if we don't boot the monetarists out of power.

Effective, sustainable, profitable, and delivers the optimal return on your time, skill, and money.One of my favorite Warren Buffett quotes, "Price is what you pay, value is what you receive".The investors I know that are most successful and who I most want to emulate, challenge me to focus on asking more powerful questions that will likely lead to more powerful answers.Here are some resources and areas of study that I have found to be extremely valuable.1) Public libraries & especially law libraries (nudge nudge wink wink) contract law, real estate cases and guide books that are state specific.2) Understanding title 3) Public record searching4) Studying marketing and human behavior: What influences people to say yes or no?

Self education has opened my eyes to the power of financial freedom from passive income. 

Really depends on your comfort level of rocking the boat, if they're paying market rent and if you can handle a turnover.Also keep in mind that if these people are still under a lease other than month to month, you can't do anything until that lease expires and you can create new terms.If you're going to do it, I would say using the excuse of being the new owner is the best time to make changes.

A lot of agents are really missing the boat by not being on this site.

@Lauren Barkley I'm in the same boat.

You like to go fishing and hope the marlin jumps into the boat, too ? 

But at least you can see that you do have purchasing power should you decide to use it.As far as raising the limit on your card, if you have been using it I hope you have paid the balance every month.

Now that we've closed, fixed the house up a bit (basic paint, windows, a few other cosmetics), and have it rented out for positive cash-flow, I'm looking to bring on board a property management company so that I don't have a situation of my dad getting called up in the middle of the night if there is an issue with the toilet, power, etc.If this works out, I'm hopeful to continue learning and also acquiring more properties for my buy and hold approach.