for example when changing cabinets, addressing trim, door pulls. hot water tank replacement: place a pan under it.  

Welcome to BP, sounds like a good plan!

This post could easily become a book on what to doThis is an awesome opportunity and it sounds like a really cool unique property - no brainer to get it rented AND on top of that you can still go whenever you want.

Part of the reason I threw myself into work and used to work 60-80 hours per week until I was let go last year when a new Upper Management came on board and started replacing managers with personnel from his previous employer.

Building a portfolio with your brother-in-law sounds like a great partnership, and Cedar Rapids is a solid market to start in.

It sounds like you've done a great job setting yourself up for options.

Hi @Shibu ThomasThere are many garden level apartments in my area, They have low ceilings and sound similar to what you are describing. 

Rachelle, that sounds like exciting progress, and thank you for sharing your strategy with me.

And in second, setting up a "plan Z" where if all else fails what does get "burned to the ground" is replaceable, and the wealth center is protected on it's "asset island". 

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.