But it just depends...I am always in favor of controlling assets personally if possible...I don't know the numbers or anything about this deal, but it sounds like you've got a lot to think about on deal structure...if this is even a good deal.Just don't let anyone steal your deal if it's viable....lots of sharks with cash out there. 

Keep things under your control that you are responsible for. 

Once they do, then spend the money to upgrade the interior so you can charge a premium over market for a nicer place.If they aren't paying rent on time or if they are trashing the place, then don't give them the option and ask them to leave.

I know that when we are new to this business, we are hesitant to spend more money than we think is necessary, after all, we have spent a ton of money on the rental home and getting it ready to rent out, so to think of anything else like a financial software program, is just not on the list of things to do, at least for now.

Depending on the size of the house - some say buy stuff on Craigslist, but my houses are large (6-7 bedrooms) so that was not an option, I would spend weeks looking.

In return they would ask me….”Well what if I did this to the house and that to the house (spending thousands of dollars in extra’s to the house), how much could I get in rent then”, and it never ceased to amaze me, how they looked at me when I told them that they would still get $750.00 a month.

I finally feel like I'm taking control of my (very fortunate) situation. 

Now I wouldn't spend 700 k to make that 20k I am talking about 140 to 210k and a worst case scenario.

I would not spend the money or take the time to learn a new system.  

Spending alerts are targeted to each category so you get a bunch of them which desensitizes them to me.3.