The market is shifting, and we are starting to see the first effects of it.

I’m meant to say you must maintain that much equity in the property. 

I suppose that's an effective way to mitigate risk. 

Your post shows that even with expenses that will happen over time, it is still possible to maintain a positive cash flow.I am hoping to buy another SFH as soon as possible.

I maintain my license because it gives me an advantage through access to the MLS and a better understanding of agents and what they have to deal with.I love being an investor but I would hate being a full time agent only because it's not for me.

We decided to use it as a vacation rental to offset the costs of owning and maintaining it.

It helps keep the landlords aligned with the City's goals of having nice, safe, clean streets and properties, and helping incentivize landlords to rent to good, responsible tenants, and manage them effectively so things like this do not happen.

We never hired a management company, as it was not cost effective with rent we have been charging and it is only one house.Another question: If I do wait til Fall 2019 to sell, should I rip the carpet (up the stairs, living room hallways, bonus and bedrooms—2600sf house) and leave floors bare, (it’s light colored, horrible carpet) to allow buyers to add their own?

So most hands-off and absentee landlords just keep on trying to maintain these out-of-date systems well beyond their natural service life.

The only reason to do that would be if you feel that the IRA would grow more effectively in real estate investments you choose than in the current investments.Because your husband is of retirement age, he can choose to take distributions from the IRA.