For the first 6-8 years we owned it, it was the best small investment we ever made and I practically lived there. 

This tenant has given me so much heart ache inspite of paying rent on time over the last couple of years ,forming tenant silos , breaking house rules etc, now I just want to get even, not paying rent on time will be fined at the rate of $100 per day , just wondering if I should exercise that if he fails to pay last month and teach him a lesson.

Also, I think it's good practice to not go for the absolute max the bank is willing to lend which will help you to not be over leveraged.

It is best practice to incorporate repairs into your underwriting.4.

It is also an exercise I went through about a year ago, when I decided it was time to sell off the single family rentals and move passive.  

Make sure you analyze the numbers well by practicing on example properties in your market.

Daily deal analysis practice #6Purchase price: 295k (25k above list)Cash needed: 67k20% downBuy and hold sfh5% Capex7% Vacancy 5% Maintenance 10% Property Management CoCr: 7.94% (12.19% if self managed)Cash flow: $443 ($680 if self managed)I would probably move forward with this one.

Meredith:I'm only licensed to practice law in your state of Minnesota, so keep that piece in mind. 

It sounds good in practice to keep exchanging to larger properties, but at some point you get old and tired.

I would've liked to buy additional properties since my first property but most of my capitol has had to go towards exercising my options in the company to save a tremendous amount in taxes in the long-term.I'm getting close to buying the maximum number of shares, and once I have, my primary focus will go towards preserving capital for real estate investing.