We have offered to allow her to pay a reduced rent for the first few months as well but I am worried that may create some sort of limit on how much we can raise the rent on her in the future.

You've listed the "big three", and those are all that are needed for most MTRs, especially if you have a limited number of doors in an area.

Hey @Eli Edwards,In my limited experience New Western, and any other larger company who is geared towards wholesaling properties, generally doesn't leave much on the bone for the end buyer. 

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

I was speaking with an agent last night who said that their brokerage told the property management division to get out of any contracts within the city limits.

As to asking the IRS reps, let me limit my comment to just three letters: LOL

Although we try to limit our Hard Money as much as possible due to the cost.

Properties below this threshold present additional risks and more limited borrowing options.7.

This location is in a 1mm population metro area, 230 units, and cost is about $1,800,000 all in.Limits of Insurance: Coverage:Liability and Medical Expenses$2,000,000/$4,000,000 Occurrence/Aggregate Comprehensive Business Liability$2,000,000 Any One Person Personal & Advertising Injury$4,000,000 Aggregate Products Completed Operations Aggregate$2,000,000 Any One Fire Fire Damage$25,000 Occurrence Customers' Goods Legal Liability Deductible: $0$25,000 Aggregate Sale and Disposal Liability Deductible: $1,000$10,000 Any One Person Medical Payments $1,000,000 Occurrence Hired Non-Owned$300,000 Each Employee Employee Benefits Liability$25,000/$25,000 Per Claim/Aggregate Employment Practices LiabilityLoc Class Desc Coverage Limit Ded Valuation Type 1 Self-StorageBlanket Building & Business Personal Replacement Cost Property $2,100,000 $25,000Earthquake IncludedSinkhole IncludedWindstorm or Hail Included 5%Business Income Actual Loss Sustained 24 MonthsPollution Clean-Up & Removal $100,000Employee Dishonesty $15,000Money & Securities - Inside $10,000Money & Securities - Outside $5,000Accounts Receivable $25,000Electronic Data $20,000Valuable Papers & Records $25,000Fine Arts $10,000Employee Personal Property $10,000Limited Pollutant Removal $25,000/$100,000Cosmetic Loss Limitation IncludedEquipment Breakdown Protection IncludedPremium, Fees, and Taxes: BOP Premium: $ 7,760.00Optional Terrorism Premium: $ 31.00Total Premium: $ 7,791.00Key notes:a.

It’s great that you’re looking to connect with local investors—it’s always helpful to learn from others’ experiences as you get started.As someone new to investing, one thing to consider is not limiting yourself to your immediate area.