You can act unilaterally in any way you want to manage improve and utilize the property.D.

The earning potential is glorious and for now, I'd rather have the influx of folks versus a tenant I'm not educated enough to service.

It was completely re-modeled and it was a nice little small house and the only thing I could tell that could of used some improvement on was the roof.

My wife will finish school soon and her income should improve significantly.  

Resale market is limited but may improve with the trendy, tiny house craze.  

While I definitely have money in stocks, I prefer RE, because with stocks you have ZERO control over what that company does to improve its bottom line, and as we've all seen bad management can cause you to lose everything (at least with RE you have the asset.)I also agree with that since you have 0 experience, asking your dad to put up lots of money was probably not the best strategy.

I'm making the usual assumption that the value of the improvements are 80% of the price you paid.  

@matt m.How much per month will your cashflow improve?

Wow.Love the drywall and lighting improvements on the ceilings in the living and kitchen areas - really updated the home.

I believe the TI in this instance was meant to be Tenant Improvement or as they say here in North Carolina "Upfit".