Including a self-canceling clause in the note ensures the balance is forgiven upon the parent’s death.

This ensures a clean transition of ownership and responsibility for insurance purposes.

The people who actually have an incentive to ensure you make it to the closing table are all telling you 5% down conventional, maybe there's a reason for it.

Separate accounts per property incurs a lot of overhead, such as minimum balances or fees for missing the minimum.I use separate accounts for each tenant's security deposits.

Now, over a year and a half later, he sent a certified letter last week demanding the security deposit or legal action within 30 days.Please advise. 

If you go that route, ensure to use a Qualified Intermediary to handle the sale/purchase otherwise there will be no 1031 exchange. 

Ensure the buyer provides a non-refundable earnest deposit.3.

Testing out smaller jobs with potential handymen can also ensure quality before committing to larger tasks.Regarding financing, holding onto the properties seems wise, given the strong cash flow and equity.

Consult a CPA to ensure compliance with tax regulations and explore strategies that align with your goals, such as providing for your mom while managing tax implications effectively.This post does not create a CPA-Client relationship.

Get a firm quote before committing.If appreciation is low, ensure rents are strong enough to justify the effort.