The best part about Reno / Tahoe Nevada are it's landlord friendly, Real estate taxes don’t reassess on the sale, insurance is low and we continue to have increased in migration, jobs (no state income tax) and our own land constraint issues which prevent the market from getting overbuilt. 

But i can take that money a increase it a lot in 3 or 4 month and use it.

In an effort to further increase the energy efficiency of the property, I had 12 solar panels and a new roof installed.

My saving grace, is that mostly everything is pretty new, so hopefully no big problems coming my way...A part of me is inclined to refinance now, which would increase my rental income to $2,300 from the current $650 (I do have access to 20K for emergencies, a credit card).

A far more successful method would be to increase earnings, reduce spending, and save up.

I am also a mortgage agent so im able to underwrite my acquisition and exit with a high degree of confidence.

Always try to look for the worst-case scenarios and ask yourself self will you still end up on top if this all goes sideways in a deal.

Part of me wants to self-manage, as I already manage other properties from out of state but this being a multi family and a sizeable building subject to onerous regulatory regime, and that I am time poor puts me off.

Our monthly surplus income, after accounting for all expenses, amounts to $3,800, providing a solid foundation for potential mortgage payments or land-related expenses.While I am confident in the value of the land to my operations and its long-term potential, I recognize the importance of careful financial planning and strategic decision-making.

We self manage our condos and live over 10 hours away, so putting this off-market deal together with furniture, furnishings, a tenant, and a current listing, made it possible to go live without needing to travel.