Also, I have a fire escape in the rear (it's metal and kind of old, can use some spicing up). 

I think the beaureaus are recognizing that homeownership is at a 20-year low and most young people are renting...not just because of credit issues....a ton of the youngsters prefer to rent and stay mobile or they watched their parents go through foreclosure and want no part of homeownership.  

One time I was doing some caulking in the rear of the house and it appeared in my backyard (gate was open and it walked in).

Two drawbacks though, If you take a mortgage,you are in jeopardy of the loan being called but that is really rear and unlikely to be triggered unless you don't pay your mortgage.Also, you will have to go through the process of transferring the property back under your name should you decide to refinance down the road.

In this case it is basement lights, front porch, rear floodlight and common vestibule immediately inside front door.

Key items from Inspection report pasted below: MAJOR CONCERNS - Major Concern, Repair: The installation of the window on the 2nd floor at the rear wall is low quality.

Scope of work on an $80k budget is: * build out ofbasement apartment down to the studs* upstairs new kitchen on existing footprint* replace/enlarge 2nd story rear deck* new roof, door, & electrical for 2 car garage* add a bathroom in existing finished space on the 2nd floor OR rebuild one gable at a lower slope to allow finishing out current space under the eaves as a master suite* perhaps other stuff we haven't thought of The questions are A) how do you approach down-to-the-studs level remodel projects? 

After my previous handyman had touched up the bathroom and rear stairs, I brought now another one to smooth out the kitchen, dig out the pipes and caulk the bathtub, and also ran new electric circuits upstairs via some rip-off electricians to add a second socket in addition to fixing one that they'd busted.

An attorney tenant can be difficult if you get a horses rear attorney. 

The economy is definitely starting to slow down with these tech layoffs and will more with these semi conductor issues that'll rear its ugly head at some point.