You can always invest profit into a better candidate for "buy-and-hold".You may end up just wanting to clean the property up and make it presentable so as to entice a desirable renter (SCREEN - SCREEN - SCREEN your renters!!!).

However, the strategy is meant to generate cash rather than purchase great stocks, so the focus is on selling the "put".I know, just show you the numbers already....turnkey numbers (scroll -> for narrow screens):table { }td { padding-top: 1px; padding-right: 1px; padding-left: 1px; color: black; font-size: 12pt; font-weight: 400; font-style: normal; text-decoration: none; font-family: Calibri,sans-serif; vertical-align: bottom; border: medium none; white-space: nowrap; }.xl63 { } price dwnpymnt cashdwn mortgage rate closingcost rent management pi piti capex vacancy cashflow modified cashflow coc projected seller financed paymentfor 12 months 90,850 17000 2925 68000 4.75 25413.33 1050 105   538.34 105 52.5 249.16 44.99 0.103636742 204.17 82700 16540 0 66160 4.75 22445.62 900 90 345.12 499.78 90 45 175.22 175.22 0.127124547   79700 15940 0 63760 4.75 20505.91 875 87.5 332.6 476.82 87.5 43.75 179.43 179.43 0.135079046   Some back story on the financing, The first property appraised for less than the agreed upon price.

In addition to income and expense tracking, some also offer doc storage, automatic bank and mortgage data imports, tenant screening, rent collection, etc.When you get even bigger and start investing with partners, some rental property owners choose to go with Quickbooks or another full-service accounting program for more flexibility.

@Miller Josh - Congrats, expansion is good.You can find rental application, rental contract, tenant screening info under resources and click on REI Resources, Regarding evictions, click on your state for input.http://www.biggerpockets.com/renewsblog/2015/05/26/how-to-evict-a-tenant-2/

Thank you so much @Steve G. and @DaNia AllenBoth the video and screen shots were perfect. 

In the end it comes down to how deep you go into screening your tenants.  

Sorry you had a tough time with your renters, what is your process for screening tenants?

If you do it, you have to very closely screen your users and the amount of traffic.  

I had a house that was 6 ft 3 on the main floor and when I was selling I had to pre-screen for height. 

Perhaps, when screening calls, let the prospect know you are looking for Grad students only.