Do you think it's common for a tenant to sue for an amount greater than insurance can cover, then take your property or even your personal assets? 

$6k tax.Ins,hoa, not to mention utilities . took out a HELOC off of our personal home ( res.worth $900k, and a 260sq ft studio, mtr. $1450 mo.) for$ 220,000 for the deposit.

Networking is the key to growth...I am always down for coffee if you want to connect in person. 

Just be mindful that you can't 1031 a personal residence but it might be eligible for capital gain exclusion from section 121.

I got a deal on labor as I know the contractor personally and helped out a bit with the project.

You'll want to put together a personal financial statement (basically lists of all your assets and liabilities) and have your tax returns ready.

We will shop for used appliances where we can when we need one… or pick up used cabinets if we can, or search eBay for something smaller,  but going to the extreme of personally shipping something big in internationally for one-off renovation needs seems like a stretch of reasonable.Just like you mention, the number of unknowns would not seem to be worth it to me.Just my 2 cents.Randy  

I'd personally sell the townhouse (doesn't sound like it cashflows or would make a good rental property) - you may have no capital gains if you have lived in it the past 2 out of 5 years - I believe the first 250k for single filers is exempt from taxes and the first 500k for married couples.

Your ability to connect with them on a personal level matters more than your offer.Think about it:  • The “Used Car Salesman” is only focused on closing the deal as fast as possible.

I personally do not have experience managing rentals.