To clarify, Going forward, the HELCO interest is NOT deductible after 2018 unless you use the fund to substantially improve your main or second principle home.

@Adam Schneider - the other issue I have had in the past that I'm trying to mitigate is a situation where once in escrow and post-DD, the appraisals came in substantially below the purchase price (poor comps if you ask me!)

There are a substantial amount of factors that go into this place a side from the regular numbers.

I've only found negative reviews of folks who either 1. got refunded immediately because the firm stated they couldn't represent the property owner for whatever reason or 2. got refunded after the firm tried and couldn't get them a substantial reduction.

So you can work with your sister, or try to groom someone into being a competent/excellent manager, but finding an experienced manager will be challenging- until you've expanded your footprint substantially.

While most of us here will give you advice based on scalability, i also think you need to consider investing some time in education to feel more confident in taking the right step.

@Khang NguyenAll of the renovations you performed prior to putting your property into service should be capitalized .... it matters not that the property was in-service under the prior owner, you took vacant possession and renovated prior to returning it to service.Additionally, much/most of the work performed during a substantial renovation is considered a capital expenditure, not an expense.

I would be interested in taking a look.

You're making this very complicated and limiting your options for financing substantially for what is probably very little benefit.

However the condition primarily and the location to a lesser degree will substantially influence the value.