If they aren't living up to your expectations then you should move on.

So ask yourself what you'd expect of your tenant who signed a year lease. 

Going in with a relative instead of single or with a spouse makes you lose the exemption.Normally, if you use an FHA loan, they expect the borrowers to live in the property.

They're currently undergoing litigation to recover the property but don't expect to get much out of them unless they can garnish his wage from the VA.On the other hand, my father is a doctor and when starting at a new clinic, the doctors approached him to buy into the property.

Until you get a system down, expect to look at 500 houses online, drive by 150, walk the perimeter of 50, look inside 25, offer 20 and get 1. 

It all boils down to the finishes and expected construction composition.

I believe the standard is a “reasonable expectation” of earning income from it... so 37 books and no property may not be viewed the same as 37 books and actually buying.

another thing that occurs to me is something that you should so anyway: regular inspections. quarterly, or at least semiannual inspections are a must. and make sure the tenant knows you're coming through at those intervals, because you want them on notice that you're paying attention (e.g. grow houses, broken stuff, holes in walls, etc.).

If you sell the LV property and purchase 3 new properties, are you expecting a higher rate of return than keeping the LV property and refinancing to leverage the equity?

@Logan Jorns, basically, as well as literal "cash flow" estimations, guesses are also made of the assets' future appreciation in value, and how that value is expected to be impacted by the future (lower) buying power of each dollar.ie.