The current tenant already qualified for the financial aspect so you should be covered there.

This protects you in case the tenant leaves a garden hose on and runs the bill up to $300.

Remember that tenants with disabilities may be protected under the fair housing law.

It ebgages and makes for a more resonsible resident.What we believe, feel or think is irrelevant for the financials of a real estate business.

One of the BP books I ordered that I am interested in is Raising Private Capital, which is essentially a how-to guide for almost anyone in any financial position and how they can continually build their portfolio by working with others and their money.

I think I've hit analysis paralysis stage with 1 property in my rental portfolio and would appreciate some financial advice, specifically - based on the numbers, does it make sense to hold long term, or 1031 into something better? 

When I do a flip it is for a specific financial purpose.

Congrats on the decision to make real estate a part of your young family's financial plan. 

The answer is likely two-sided: 1) Your income and financial situation determines how much you can actually afford to spend on housing, and 2) You find housing that fits your needs and shop around for the best deal. 

Real estate seems to be the best vehicle to financial freedom, and to allow the time for more meaningful work such as volunteering or being more involved in the community.I've reached out to a few local investors to make some connections, but hope to continue to expand that circle.