The harsh truth is that you are not cut out for this business.

On a 2M property you should be able to write off roughly 300-400k, so that would cut your real estate income down for years, but not your W2, because I don't think you would be able to claim RE professional status. 750 hrs and min 50% of your time.

It looks to be heavily treed.Have you thought about having a timber consultant tell you if theres any value in having someone come in and cut down the timber? 

.- Most contractors will cut corners, or worse, once they figure out they won't be watched closely:( Your job will also go to the bottom of their priority list.Monitoring progress is relatively easy: hire that same inspector to go by weekly or before any payments to take a VIDEO of:1) What was done2) Quality of workmanshipOne other thing you didn't ask about, payments to contractors.- They all want 50% down or as much as they can squeeze out of you. 

That doesn't cut it for me.

You will thank yourself it cuts down the calls by 90% in my experience. 

Congrats on having the cajones to cut the chord.  

I predict that the guys who are fully leveraged and cash flowing $100 per month will be motivated sellers when the next big correction happens.actually its either them or they walk and its their lenders selling that is what happened in that time period.. and was pronounced in certain markets.for me personally  I don't want to risk  my credit and finances and borrow 75k to make 1200 a year... or even 2400 a year if its a market that has a history of no appreciation and I don't feel there is going to be any significant appreciation.. 2 to 3% a year does not cut it.but I will take 500 a month negative or 10k a month negative if I think there are huge gains at the other end.. 

Then my firm cuts me my share in a commission check that I may get 4 days after that. 

In other words, if you don't fill your unit in the slow season because you're afraid it will cut into your high season revenue, will the high season revenue more than cover the difference?