For instance, if you have a basement for the furnace, ground space for the condensing unit, and it's a studio apartment...then that greatly simplifies installation.

IRS Announces Simplified Option for Claiming Home Office Deduction Starting This Year; Eligible Home-Based Businesses May Deduct up to $1,500; Saves Taxpayers 1.6 Million Hours A Yearhttp://www.irs.gov/uac/Newsroom/Simplified-Option-for-Claiming-Home-Office-Deduction-Starting-This-YearThought this might be helpful to all who run a business from their homes.

If the equity is not all yours selling simplifies things and avoids the potential for future issues.You also might want to identify some potential areas for investment before you sell this place.

To simplify this already very complicated deal we will just average the 2 for a final nightly rate of $600. 58 days * $600/night= $34,800Not too bad for only 3 months of work.

This may also be a good part-time gig when I semi-retire in a few year.4) Standardize, simplify and document all my business processes. 

I'll try to further simplify.  

I am a painting contractor and have construction contacts in my immediate area so staying local will drastically simplify the rehab process.I'm still very much in the learning mode right now, but will certainly also be keeping my eye out for potential buys and ways to finance them.  

Why not work up into a multi-unit property for more cash flow and to simplify management?

Wow Jon, just read your response to Shauna Turner (divorced 10 yrs ago) and had to tell you - I am impressed, man you know a lot about a lot and how to explain & simplify it !!

This made it possible for me to simplify and streamline lots of things: "Sorry, our company policy is that rent is due on the 1st with a 5 day grace period and a notice to quit is always issued immediately when the grace period ends, and the late fee is due.