A professional making a few hundred k or more a year usually cares about having high quality assets that bring decent returns and tax write downs and wealth accumulation for retirement.A person that has say only 20,000 to their name and makes 40,000 a year might see things totally different because of tax bracket and ability to grow cash is much less with the income made after paying for necessities.

I know in some states you have to track interest and pay tenants interest that accrued while you held their security deposit so having separate accounts are almost a necessity I think for things like that.3.

Necessity is the mother of invention.  

Or is spending money to fix these things more of a necessity?

They had contacted us all by mail & as it was city employees doing the work it was going to take several months just for our little street.Our House was built in 1942 & we were constantly fighting tree roots that had infiltrated the old clay pipes so it was a necessity but the quote was $5000 for maybe 30 ft so while we were thinking about it a city employee drove his heavy equipment over both my & my neighbors lawns sinking in enough to completely rupture & destroy our old lines.

If you are going to invest in MA, or even if you aren't, attending local groups can yield lots of contacts and local information, so I think it's a necessity. 

By the way I’m talking about money spent beyond your basic necessities aka splurging. 3.This one is for beginners when do you think you will get to that point where you can say you have made it?

If using a deed, have the attorney mark it up in such a way as to make it obvious that you are considered a family member or familiar assignee.Make certain the you have the relative's social security number on hand and reference it in your change of address letter, which @Dave Metsker referred to.The idea is to get your name on title, take over the loan and avoid necessity of refinancing, all without drama, inconvenience or drawing much attention from the lender to your transfer.

Furthermore, because of a mutually symbiotic relationship the $600/month rent has never been raised & our oldest daughter now has an office in the same facility 'rent free'.By necessity a mandated $15/hr will generate a paradigm shift in any employer/employee relationships.

Knowing the right people are always helpful and it sounds like some major necessities (construction & money) are already covered in some way.