He died very unexpectedly and for a minute, I was just out of it, then of course this was the last thing I wanted to do, and now I'm accepting this as a way for me to honor him. 

If your tenant's finances get much worse than this (40% or higher towards rent), then when the car breaks down (as they do from time to time) or an unexpected medical issue comes along (because, who really PLANS on getting sick), they'll have enough income cushion to weather that financial blow AND keep you from evicting them.

Since you are essentially breaking even at the moment, what happens when the unexpected happens and you have a big repair bill? 

Accidents can happen and a property may need to be sold very quickly.  

@Ken Vingua was spot on with his comments about cap rates and other tools that are sometimes used even by accident.  

You are now creating a larger margin to cushion the unexpected and hopefully more profit for taking on a wild project like that.

I have asked for a itemized statement showing what I owe them and will pay the rest off in the next 3 paydays but manager refuses to return my calls to discuss the final money owed to them and release me from the apartment AND futher unexpected charges.

Hi everyone.I'm about to come into a chunk of money that is unexpected backpay for the last couple years due to a lapse in the payroll company my employer uses. 

Over time, you will have unexpected turns during the holiday season and the property demand needs to support it or the cumulative ROI during high and low demand periods need to support it.  

I also want to believe that you know the consequences of not protecting your asset properly, some advice you to insure you rental property and do the transfer of title from LLC to your name but anything short of a comprehensive insurance package is not enough for a rental property with this it can cover for additional increase in construction cost in case of the unexpected or natural disaster.