You could take a few steps to mitigate future issues:1.Consult a contractor or inspector who could confirm whether it’s up to code (closet or not).2.Make the closet a legal, small fix to have it fully compliant—shouldn’t cost much to do this.3.Double-check with local zoning or the building department about the possibility of retroactive permitting or what kind of inspections would be needed for it to be officially recognized as a 3-bedroom.From a cash flow perspective, adding a legal third bedroom could boost your rental value and ultimately your property’s appraisal value.

Do you plan on self-managing or would you hire a property manager?

alternative to QB, especially for people managing small portfolios. 

Cash for Keys is a method used by landlords and property managers to encourage a tenant to vacate voluntarily in exchange for a financial incentive.

@Matthew Becker who manages them all?

My local market is cost prohibitive to invest in and the thought of assembling a "team" of unknowns in another market was scary. 

One or two gurus spend on average of a documented $100,000 a month in employee costs, taxes, office space, marketing and bonuses.

Can you hire a designated portfolio manager and/or different property management to buy back some of your time? 

It's all about the numbers and managing risk vs reward.

Try interviewing at least three managers.1.