The husband told us to apply through Zillow, so we filled out the application on the platform.Before completing the application, we spoke to the wife over the phone to clarify some questions.

Although I've considered a future line of credit against the property as my best long term option, I would need to pay down the remaining balance first.

Do you have the case online? 

Look for your states offer to purchase contract online or contact a realtor to get a blank copy. review the agreement to be sure assignment is not expressly excluded. if there is nothing excluding assignment from the contract then writing the words "/And or Assigns" after the name or company's name on the buyer's line should be sufficient.Good luck!

I'd also add to that that you are paying a 20% withholding tax on gross rental income. 

Best of luck on your real estate future, it's been a fun adventure for me!

Here is a recent bulletin from PSI with more information on the exam & requirements for becoming a broker. 

But in general, your biggest risks are not necessarily what's the maximum rent you can get, but can you find a reliable tenant that will always pay and pay on-time.

There is a cumbersome way to do it on paper forms, but you should not.The only sensible way is to submit your 1099s to the IRS online, however not directly with the IRS.

I would like to build a duplex on it for long term rental income.