I then provide a list of recommendations and if desired, communicate with the local property management company (I'm on great terms with all of them).Mike, if you would like further clarifications and elaboration, just let me know.

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But additionally, my rentals that were in less desireable areas drew less qualified tenants and those tenants, on average, not only did more damage to properties prompting more maintenance calls, but also were less likely to proactively call if something was weird, and waited until it became a major issue which cost more to repair, i.e.

Also, I'm not selling because there are tax benefits, it's a very well run city with good schools and overall desirable. 

TL;DR: If you were just starting out, with basically zero debt and costs, a low six-figure salary, and $140,000 to invest, with a desire to get into real estate, “connections” to a team of contractors and a great real estate agent specializing in distressed investment properties… What would you do?

Earned income isn’t exactly our favorite option but for me it seems the quickest.

But that is mostly due to investors desiring to convert them into all residential units.

As long as you are upfront with your clients I think leveraging your skills a fire fighter will make you a desirable realtor to work with, especially for families with young children.  

For my C-Class rentals I do:-3.5X earnings-No prior evictions-625 credit score-1st month's rent and security deposit-No smoking or vaping on the property-Pets depends.

Easiest way is to just debit retained earnings and credit a reserve account for however much you want to reserve.