One of my mentors is one of the largest privately held owner/operators in the US and am familiar with his criteria. 

I would have gotten significantly more done if I was being held accountable daily or weekly.  

@Gustavo Mendoza it really depends on the tenant and state/local laws.Class A tenants, usually having 680+ credit scores, can be held accountable for a 12 month lease.Most Class B tenants, 620-680 scores, can also.With Class C tenants, under 620 scores, many won't care if a lease is 12 months or MTM, they will move when they please.

FYI a consumer tenant can charge back up to two years of ACH transactions. 60 Days is just the cutoff for where the tenant/consumer "may" be held responsible for the transaction.

If I was held down by placing tenants, calling maintenance, listing properties, I wouldn't have much time to grow. 

We also held the property for more than 10 years allowing the value to rise.

Is the property held under an entity?

I did a vinyl sheet in both bathrooms and it's held up nicely so far. 

It really shows you're stable to lenders as well when you've held down a job for a few years. 

@Jim Collins there is some nuance here....like how you are showing the properties on your tax returns...but all things considered, you should NOT have business debt held against you.