@Keith RichardsonIt depends on your risk tolerance and ability to stay organized.

However, after seeing what we could offer in terms of amenities, location and service, they happily paid the premium rent associated with renting from us.I am not a natural salesman, but reading books on marketing, sales and hospitality has greatly improved my ability to convert a lead.

It broke day 1, it was fixed day 1, here’s a bill for 75% of what I paid to handle it myself. 

This would not necessarily be the case, or the spread could go the other way, though such motive could present one reason for conversion.I am not even sure if rent control gets eliminated through a possible condo conversion in most towns in Hudson County - West New York, for  base condominium rent > $1000, is one exception, it seems valuable to determine the others.

Investors benefit from passive income without taking on any of the operational risks or liabilities, but the model, which is actively developing and innovating, depends on the property owner’s ability to manage the property effectively. 

Should effort be placed in a baseline business plan to determine the best option to start in for this field?

@Agatha Oliveira Over the last 10 years case law has been established that greatly expands the ability to redeem tax sale properties.

Lenders typically look at the rental income of the property to determine if it covers the loan payments.

That was not acceptable to us as projections wouldn’t tell us how the company or portfolio of companies have been performing to date or give us any confidence in the degree of certainty with their ability to repay the note.

That's not a show stopper since you'll never go broke paying tax on profit.But the ability to use all of that big tax bill to benefit yourself throughout the rest of your life and then pass it along to your heirs tax free is seriously worth considering.