Now he has always had diabetes from childhood and his wife is a kidney stone factory and has to have her kidneys cleaned out every 5 years or so by operations not just treatments so they are "uninsurable" because the premiums are too much.I also took a second job and moved in so that I could put the most available funds into this family.

Mike OH: Thanks for the concern, but you don't have to worry, I've already wired my entire savings off to a guy in Botswana named Drake who is giving me my beautiful mail order bride!

Yes, the roof leaked several years and required new ceilings inside.Today, with mold issues, it may be much more of a problem.One subsequent owner of my childhood home installed an inclined roof (among other changes).In addition to talking with an insurance agent, talk with a builder & roofer about replacing the flat roof.

Thanks Christine.You and others have lots of great ideas.There are 20 units total.Rehabbed units get 950 a month.Other units we have that need work get 780 to 860 a month.I want to get them all above 900 with the improvements.The property management fee is usually 5%.Instead I have a PM I can trust a child hood friend that is doing an excellent job.He is going to be an onsite PM living in one of the units.I will expense a payment to him for the PM and then he will pay rent to show gross income on the property.There is an opportunity for more units on the same street so I might acquire more.I can't run them day to day because of my commercial real estate brokerage I own.I figured an onsite person will keep the tenants in check.Thanks for the help.

So if we went with the 1031 exchange we would be a bit restricted with how much we could use the property-I have tried to tap the equity in the LA rental property home but I was denied because it is operating as a business so I cannot get a HELOC -FWIW, this LA rental property home was my husband's childhood home originally, so I only pay like $1000 in tax annually...so that's another thing to consider...maybe I should just keep this easy rental-Any other suggestions?

8 percent on a bride.

As far as Robert Kiyosaki regardless if he didn't have a childhood at all, he outlines the plan every wealthy family in american uses to acquire and retain wealth.Build a business, invest the proceeds, rinse and repeat.  

I have a child hood friend down there who is getting 10-15% all day BUT he is buying value add properties, remodeling them, and then renting them out. 

Spent the rest of my childhood growing up on a farm and construction company. 

I'm sure I'm leaving out details or not considering certain things, so I wanted to share this with the community to see if there is a possibility for my sister and I to keep our childhood home within the family while still helping my parents toward a happy retirement!