As it is, I have an acre of land and a house I've been slowly remodeling for a few years, so I'm looking to make a few updates and rent it out with the possibility of coming back to it in a few years when my kids are older and we have fewer commitments outside of our family (grad school, work, etc).A carpenter that I've worked with for years has inquired about renting the house, but the increase in rent from his current place is pretty substantial.

 i think it kinda depends on your situation too, if the money from the sale can make a substantial difference in you getting more rental properties it sounds like that is the best way to go.

It would be on a property that you bought for a substantial discount.  

Besides building equity, you'll have substantial savings by not paying rent - that's all cash in the bank to help you save for your next down payment.

  #2 And #3 have substantial ductwork required, drywall and paint that needs to be included, if not already. 

Always require WRITTEN bids from LICENSED contractors3, Always require WRITTEN comps to substantiate ARV4.

The lesson is: it should be very hard for appreciation to keep up against a substantial net rent yield differential.Now let's look at why there was might have been such a stellar 3.1% in America's Finest City long term appreciation and where this number is going to be.Appreciation Effect 1 - Rising Inequality and Ricardian Rent less than +1%Living in San Diego gives access to higher paying jobs, and space there is very limited.

How about evicting someone that gave you a substantial down payment to lease option one of your houses, had clean backgrounds and you still ended up having to evict?  

But even if that was possible, you'd have to have substantial reserves.

Thanks for your insight.I recently refinanced 6 units and was all set to purchase one or two multiplexes this spring when the interest rates rose substantially.