I just say "I have accepted a more qualified applicant".

That helps create a more thoughtful analysis.You MUST account for property management, snow removal, and lawn care costs even if you DIY. 

Then you can read a more in-depth book like The Book On Rental Property Investing by @Brandon Turneror The Unofficial Guide to Real Estate Investing by Spencer Strauss.

Or should I get a more stable job and work more hours and in return only work on flip houses in my off time. 

Be specific on what you want--if you leave it up to them, you'll have a more expensive yard than the home on it. 

I’m hoping to get a more expensive house and it would help to have a lower down payment going into it.  

I figure if I have to pay taxes on it at some point anyway and have to pay taxes on it as earned income anyhow (whether I have a private entity for transactions or use my self-directed IRA), then I would rather have the tax lien in a more liquid and accessible entity if the lien go to foreclosure and I acquire the property. 

@Johnny Lau I think this question comes up very frequently at a more base level, whether to be an active investor or passive investor.

@Evan Chesterman The legal of the property would be the legal description, it's a more detailed description of the property than just the address. 

Sell it and invest in a more favorable market.