I am 80 years old and rely on investments for retirement income.

So, if you have 10 units and you are going to pay $1,500 a month and you are working on an active income job, too, this is an easy switch due to the labor mentally and physically (even if it is just phone calls) to get these rentals running as a well-oiled machine.  

The debt to rent income is fantastic, but I understand if the city is not growing.

Hi Ricky,Being in operation for 10 years with mid seven figures of assets and NNN leases,it would be wise to speak with your tax advisor regarding if the tax set up should be an LLC, an S-Corp  or a C-Corp.It would also be wise to speak with an asset protection attorney to find out if this is something that might be beneficial to you in that area.

Taking out $100K tax-free in 6 months plus cash flow and Cost segregation for a $200K deduction to offset gains for other income. 

My idea is to put 20% down on a $1 million property, with the remaining $800,000 paid off over 8–10 years, depending on how much yearly income the seller would want.I’ve seen a lot of discussions about using seller financing for investment properties, but not much when it comes to primary residences.

Quote from @Daniel Huang: Hi, I am trying to transition to develop my rental income as I am in the final years of my professional career.  

Michelle Wang,With all due respect, you should make plans to be in another business once you're out of Real Estate Investing (Residential, Income Property).There are Members of our MassRealEstate dot net Association that come crying to me about similar situations as yours i.e.

Buy and Hold investing is a great avenue to begin with as most people live their lives off of residual income. 

Fake income documents are easily purchased online, and inexperienced screeners often miss red flags.