When a tenant doesn’t pay you hit them fast with a late fee , if they still don’t then it’s the quit or pay notice then if they still don’t it’s eviction notice and filing .

You've summarized the pros and cons quite well.

The present value of the future capital gains tax is probably quite low in comparison to the value of the cash invested in something with upside. 

This will depend, but I would say generally you want to have the bare minimum of $100 per door, but even that is quite low.

Judging from the first few pages of the beginner's guide, I think we're looking at possibly doing some buy and hold strategies on single family homes and duplex/triplex/quads, since we both love our jobs and aren't quite ready to jump into the real estate game full time.The amount of information to read up on and understand is dizzying, and I have never so much as held a mortgage of my own. 

My Opinion:As the yield curve flattens it is an indication that the cost of money is going to be higher.Based on mortgage statistics that the median new mortgage has an LTV of 95%, people are still leveraging their homes quite a bit.In order for the real estate and financing markets not to go stagnant they will need to come up with increasingly ‘creative’ ways to finance houses with average home prices that continue to climb otherwise home buyers will no longer be able to afford purchasing houses.While all of the indicators don’t look exactly how they did in 2007 it is quite scary to see that many of them are quite similar.Just my two cents.

the house is in a quickly gentrifying neighborhood close to downtown greenville, but it's not there quite yet. 

Someone who has enough staff on hand that if someone quits, falls sick, goes on vacation, there will be someone else to step in. 1 man army or husband wife setting up a PM shop can be a bad idea 

I am quite certain there is rent control/ stabilized.There is no such thing as month to month in NJ.

Rajah I see you have no investments of your own... this is quite typical in Miami as it's very competitive to get a great deal.