That seems to be a very popular method of investing in SW Florida.

You'd find me at the Venetian's poker room...

If there is more than one Note or if there are liens against the property, this method obviously gets more complicated.

My method is I make one quick walk through the house to decide if its worth a closer look.

I used the point A&B just as a method to separate the difference.

It teaches wrong methods.'

Just like if you set down at a video poker machine and play 200,000 hands with perfect strategy your return will be quite close to the theoretical return for that machine.

The lease isn't up until April of 2016, and I don't plan to raise the rent until then, but I am thinking to try to get it up $110 more from where it is now (but still about 100/mo under market), and am thinking of writing a letter to them when there's about 6 months left in the lease to break the news to them.I would also be willing to offer to raise it $30 every quarter over a year as a grandfather method, and lock it in an additional  year if they agree to it.It's that, or I've also thought of taking it to market value (but again this is 200 more a month which is a big increase) and offering to remodel their kitchen. 

Additionally, when you bill tenants for water, is there electronic method?

Homeowner, I'm a RE investor, I MAY be interested in buying this house (MAY because it's not impossible for you to buy it because now you know other methods to actually buy) But, I also have other investors I work with and if I don't buy it, I'm confident I can get this property sold for you, quicker than listing it and at a price we can agree on.