Eg, if the tenant can only afford $600 instead of $650, the property is empty for a month if the tenant leaves, then it'll take you 13 months to make up that missing month.In my opinion, empty properties don't make money.FWIW, we have dropped rents for tenants in the past, like the couple who had just had a child and her company fired her when she went into labor three weeks early.

I had t buy my wife a van to accommodate for our third child and in the process I got her van financed at 3.5% interest.

The form is called the BOE-58-AH Claim for Reassessment Exclusion for Transfer Between Parent and Child.

If you are in your neighborhood for the long haul, it's really great to develop friends close by, so that when your child gets older, he has someone to play with.

If you provide free WiFi and your tenants use it for illegal purposes (child porn) don't be surprised if you get pulled into the investigation.

If you read through my list above, credit card debt will not remain, but child support will most likely.  

The leak had happened in the ceiling of the room, which is the tenant's child's bedroom.Few months have gone by, and I get a call from the tenant yesterday that the child has been having breathing problems and issues with the lungs for the past couple weeks.

Will or no will, high value or low value, multiple heirs or a single child, mortgages or no debts, all these things will be factors in determining the complexity of the case.Since you'll need to know the next of kin (either directly or obtained from death certificate) you'll also need to think through what you'd say to someone who just lost a close relative. 

Ryan,Thanks for the reply but I married an only child.

That is, you cannot invest in your own business, your spouse's business, your child's business, your parent, grand-parent, etc., your grand-child, great-grand-child, etc.