@Mark VesuA couple of things missing1) If you sell the property, you lose about 10% in value right away6% in realtor commissions and 4% in other costs(Title work, stamps, etc)2) Rental income is likely sheltered by depreciation(no taxes) while the dividend income will be taxed.3) You are less likely to cash-flow when the per-property unit cost is above $150,000.In your case, the cost per unit is $275,000($550,000 / 2).4) You may want to consider doing a 1031 exchange and get into better appreciation / better cash-flowing properties.Best of luck

Are stamped plans required?

Some states like WA and PA have high transfèr/stamp/excise taxes and all have closing costs, so know the costs of owning it for a short time.  

If that is just for the design or design and stamping than seems quite high.  

They may fix your hardwood floors with glue on wood stamped linoleum stickies.

It took three weeks to hand-write all those letters, $550 in stamps, $120 in envelopes, and all of those inputs gained zero output. 

  $115 for the stamps. 

I purchased the property (for $100k cash) in my name and then quit to my LLC at refinance but was charged $1100 for the deed and doc stamps.

Open mailbox and pull it all out in a handfulWalking back down the drive, begin to sortSales papers and grocery ads go to the bottomNext goes the postcards that are obviously junkNext, anything else that looks like a marketing piece....including unsolicited business mailThen the billsOn top, anything personal or hand written (unless it has a bulk mail stamp, then it goes with the other marketing junk)Back in the house, the junk goes into the trash without a thought, bills go on the counter, personal mail goes back with me to my office or living room where it is immediately open and read....So the risk is simply not getting the letter opened.

I stumbled across an internet service called Logyourmessage that proports the emails sent through their service use date and time stamp logs for when or if the message is read or ignored and are as good as receipts for certified letters sent through the USPS if you need to go to court for eviction or for a judgement for arrears.