Hi Michael-Great question and an important skill for investors to understand.I recommend the ABC's of Real Estate Investing by Ken McElroy and Ken's YouTube Channel.If you are an investor, I recommend finding and using a good property manager for your properties as soon as possible to maximize your return on investment and make owning as passive as possible.A good property manager is a key part of your real estate investing team.Get them involved early in the underwriting process of a potential acquisitions and the planning for adding value.To Your Success!

Don’t assume anybody knows anything about anything 2 - A CLEANING PLAN!!

Sure, it's a bigger upfront investment, but it could pay off nicely, especially if you're planning to move there eventually.

If they don't sign the renewal they have other plans most of the time. 

I now have 9 doors (including where I live) and plan on buying more. 

All things to consider. 5) how do you plan on managing the property?

On that playing field, everyone's costs go up just to stay in the game, only to end up in exactly the same place competitively.Better to spend the money on acquiring (or trading up to) properties with really defensible differentiators like a great view, great location, or lots of bedrooms.  

Our original plan was to build wealthy by holding this property for 10+ years but now we are thinking 200K tax free is sounding pretty good.

@Ryan Stuckeyany plans to expand into PA?

FTC, California DFPI Case Leads to Ban Against Operators of Mortgage Relief Scam Home Matters USA | Federal Trade CommissionOffering to buy their homes and "Save their credit" or "Save them from foreclosure" could innocently put you in the state or federal regulator's crosshairs.