My feeling is you are not interested in making money as opposed to having a quiet tenant that does not require you to have any management responsibilities.

Hey Elias, the inability to deconvert into a SFH could impact the price a little bit as it does remove part of the buyer pool as opposed to a traditional multi-family, but there are still a lot of investors out there looking for a income property that'll provide them a good return and your cash flow is great. 

I guess I'm thinking in terms of being able to drive to the property if necessary,up to 2 hrs would be ideal, but not opposed to 4.

@Charles Have you considered doing an equity loan as opposed to refinancing the entire loan?

I believe you pull the permit for the entire project as opposed to each trade pulling their own separate permit. 

This house is plaster as opposed to drywall used in modern construction.The carpenter would nail the slats to the studs and then apply plaster.    

I'm not opposed to hiring this out, but want to be smart with my money - which may include hiring a pro :).

Any particular reason you chose a 506 (c) as opposed to a (b)? 

I'm not opposed to efficient urban housing, I just don't want to get rich perpetuating a slum.

I'm not opposed to a flip, but I like the idea of residual income.