Then pay all of the reno bills from that account.

If a tenant fell, broke their neck or a limb and sued for medical bills and lost time from work, etc., it could easily be above and beyond your umbrella policy.

Thank you Bill Brandt and Wayne Brooks. 

I had been stashing away cash from the numerous overseas deployments I was doing for several years, so I paid cash for the property and repairs before renting it.

Beware of uncle sams bill both on the sale of your business and going forward as you consider where to allocate.My 2 cents, the bond market isnt particularly attractive for the foreseeable future and is more likely to actually lose you money, especially with longer duration.Be aware of costs, stick to low expense ratio ETFs and go passive in the the equity markets if you do not have any macro thoughts of your own.As far as real estate goes, BP is a great place to learn the ropes, especially if you are interested in swinging a hammer and buying direct properties.

Very helpful, thank you for the insight and response Bill!

Thanks @Bill Brandt!

I sense his doing that to skip town and leave me with an unpaid rent bill.

Like @Bill Brandt said, try the color match markers on it.

@Bill Brandt thanks thats a great point