There will be times it can be trying, and try to anticipate those situations before they happen.

My guess is you have not actually sat down and done the real math required or anticipated the headaches of being a landlord/investor.Assuming you are a hobby investor, you have surplus income to supplement your investment income monthly and you do not mind contributing cash monthly resulting in lowering your actual end profit who cares.It is a combination of investing and forced savings.

Renovations will take 2 weeks.I anticipate having a hard time finding a good renter during the fall/winter months, so I'm considering furnishing the bedrooms with beds, couch in the LR, and a table in the kitchen - very basic. 

I have put a boosted posting on my LLC's facebook page that we "anticipate a rare vacancy" and to keep watching for updates.You are not going to change your current tenant's behavior.  

We did OK with it, but made the mistakes of taking too long to complete, so the holding costs hurt us, and we ended up putting more into new electrical and a new water heater, which we hadn't anticipated.  

We anticipate to go full cycle with those first two deals within the next two years and happy to chat with anyone that would like to learn more about real estate investing!  

Like everything else, it takes a lot longer than you anticipate!

I'd take the trade of not having to do the updates - granted only 2k, but thats just your estimate on your first rehab...once you start peeling the onion, rehabs seem to end up being more money and time than originally anticipated....my free 2 cents worth :) Agree with others - get the vacant one rented out and see how easily it is to rent before worrying about a 27 year PAYING tenant. 

The successful ones, though, have met with professionals and fleshed out a plan that anticipates the ups and downs of a market so they can see the good and bad without losing their shirts. 

We anticipate a mobile app in the coming months.