@Alex Penalva|  The education aspect is so important Alex.

@John Dickerson  A very broad question but in terms of what you legally must provide as a landlord it comes down to how the laws of your state define "habitability" of a rental property. 

Define the word, "soon", as you are using it in your title...and, rumors are great for entertainment. 

Which leads to a series of additional steps, like annexation, zoning, densities, utilities (water, sewer, electric) and entitlements.A real estate developer is your best bet as a resource to conduct the initial due diligence and go into a deeper dive to define the project or projects best suited for the property. 

My old PM was able to shed some light on some of the more puzzling aspects of this whole thing - things that she has heard from other property managers and her other former clients.

I hadn't really given consideration to the leverage aspect until reading your post.

as they tought us, "shoot, move, communicate"     (the order is important)Yeah, I think the volunteer aspect has a lot to do with it.I’ve realized over the years that a lot of government (and I worked for the government) and military jobs are there...for the sake of employment and nothing more.

Most people will define a good market as one with a strong job market(i.e big name employers that employ white collar jobs, as these create the most secondary employment), a growing population 10% or greater, low crime, economic engines, etc.  

Per the rental income I was thinking of it towards like the AirBnB aspect of it and being able to deduct utilities per square footage that's occupied by tenant.

Hi Johannes, My first recommendation would be to define what your minimum return on investment is and monthly cash flow.