Eventually, years down the road, I would like to sell some of the properties that I have acquired to pay off other properties and own them free and clear.

I recently bought a 4plex and I was told one of the 4 tenants did not always pay on time, so no surprise in my first month there was, you guessed it, one of the tenants did not pay.

The plan here is to have a local (RV Certified) tiny home builder do the marketing to attract buyers that want to buy their tiny homes (cash or 25 year financing) and live in this park, until there are 44 pads occupied by tenant-owned tiny homes, paying $750/mo lot rent, on 1 year leases.

You recover and pay ordinary taxes on the depreciation you took, or should have taken, and then you pay capital gains on the profit.

Many owners covet the traveling nurse which is known to pay a premium for MTR’s without a blink of an eye. 

We use a YTDpaystub and last year’s W-2(s) to calculate income several different ways:Hourly or salary income calculated to a monthly amountYTD income divided by number of YTD monthsYTD + W-2(s) income divided by the corresponding number of monthsIf these numbers vary too much, then we investigate and require an acceptable Letter of Explanation.Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment to make surethey’ll always be able to pay the rent on time.

Double check the names, address, loan amount, other contact information, etc A few important documents include: The closing disclosure, The deed of trust, The note, and The warranty deed.

My problem is I'm trying to 2 more properties this year, and pay with cash.

One thing that we have done is to actually sell a property with a lot of equity and then use the proceeds to pay off the loan on another property.  

@Katelin UhinckIf the commute is an issue you could buy a property that cashflows to go toward personal expenses and still have the long term benefits of having renters pay off the mortgage.