All have received a rent increase to market at end of lease.

I have been offered property in Taos area of New Mexico but their population is so low but the property values are very high.

Question--- In my particular situation it calls for the following: 3 or 5 year term Amortized over 20 years Balloon payment at end of term.

At end of 3 years, balloon payment is due for sale of property.Buyers thought process: Collect rent (1215/month) - (650/monthly payment to Seller to cover mortgage) = 565 income/month.  565/2 (50% rule) =282.5x36 months= 10k for downpayment, cash for remaining balance.Sellers wrench: Seller feels health situation is declining to the point they need out ASAP.  

I have a tendency to try to have too many fires going at once.

I don’t hire GC only subsFloor guy I pay for the floor I pay him when job is doneElectriction I pay when job is doneCarpenter I buy what he tells me to buy I pay him and whatever extras he  needed to buy when he is done Tile work I pay for major materials, he pays out of his pocket for extras, he gives me receipts at end of job and pay him then tooSo basically I don’t pay any labor til it is done.  

I will be charging $550 to $600 monthly, currently the highest rent is $390, average rent in area for similar, $500, low average $600, $800 highI have a tendency for design and custom work and like being creative, but I'm starting to think I may have to keep myself in check and dial it down a bit, my thinking is, make them nice the for long term maintenance free hansel and to attract a higher end tenants, it's worked for my single family rentals but now wondering how it will work in multifamily C class area.Is my thinking on track or am I creating a new hobby for myself. 

Currently on 3rd year. 3 year option to extend at end of the lease.

I keep the really good cash flow properties.Plus, depending upon your tax bracket, long term capital gains can be your friend.I do have a tendency to be really cheap-Steven the Tax GuyYour guide to IRS laws, rules and regulations.

See checksheet and log at end of chapter.The taxpayer works 500 hours or more during the year in the activity.The taxpayer does substantially all the work in the activity.The taxpayer works more than 100 hours in the activity during the year and no one else works more than the taxpayer.The activity is a significant participation activity (SPA), and the sum of SPAs in which the taxpayer works 100-500 hours exceeds 500 hours for the year.The taxpayer materially participated in the activity in any 5 of the prior 10 years.The activity is a personal service activity and the taxpayer materially participated in that activity in any 3 prior years.Based on all of the facts and circumstances, the taxpayer participates in the activity on a regular, continuous, and substantial basis during such year.