For rental properties it is best to keep liability low.

On your taxes do you write off the MI currently? 

You are definitely creating a lot more tax liability than if they were to leave it to you at their passing.

These type of people always have a story about the job they're about to get, tax refund coming soon, inheritance, etc. and when you drill down you find out they lack basic things (ID) that would enable them to follow through on their plans.

First off, septic is a big liability.

If you're concerned about liability, you could consult with a legal professional or your insurance provider to understand your rights and responsibilities as a landlord.

It would also essentially wipe out $400/month rental income and you'd lose the additional benefits like potential appreciate, tax advantages, etc.If you planned to buy another rental, that would be a different conversation because there might be upside there.

For individuals tethered to a W-2 job, this presents an opportunity to judiciously manage their tax liabilities while exploring supplemental income avenues.If this sounds like something that fits your investing goals, please reach out.

Now post-COVID you have a larger inventory, increased prices, increased interest rates, increased property taxes, increased regulation (even Smokies are now requiring permits) and increased insurance and at the same time return of the reduced Pre-COVID occupancy numbers. 

I have been paying a lot of taxes every year from selling stocks and have a high W2.