I'd be looking at homes in the Fairfield and New Haven counties(may drift further away but I'd like to start there as I'm most familiar.).

Detailed renovation costs and rental numbers posted below: Item Cost Demo (includes removing kitchen wall & installing support beam) $1,500 Exterior paint & siding repair/replacement as needed $4,500 Roof repair $350 Foundation repair/basement waterproofing $6,200 Renovate existing bath (new tub & fixtures) $975 Build new staircase to access attic $3,600 Finish attic space (reinforce joists; install subfloor; insulate; install windows; framing; electric; drywall; add bathroom) $19,500 HVAC $2,000 Tile tub surrounds in both baths* $600 Electric (new fixtures/outlets/switches)* $400 Interior paint* $800 Flooring* $1,900 Misc carpentry (trim work, shiplap, floating shelves, etc.)* $575 Misc (landscaping, kitchen faucet, door & cabinet hardware, drywall repair, smoke detectors, etc.)* $600 Utility costs during rehab $200 Closing Costs $2,000 TOTAL $45,700 *DIY jobs; cost listed is for materials only We have almost a dozen showings lined up this week after just a few days on the market, and hope to have a tenant selected over the weekend.

It still does not make 'sense' to me though (as so many government rules dont) as it seems like by allowing that there would nothing for the IRS to 'lose' by allowing it, and there would be the possible benefit of having the Required Distributions in the 401K ROTH, and therefor more money floating around in the economy to be taxed.Either way, thanks for your input!

I imagine the answer is floating around here on BP somewhere, but I still haven't found it just yet.

If I default (which would not happen) they could foreclose on me, and have my down payment to cover some of those costs and float them along.

I think a lot of people are just plain embarrassed and when they hear that the mortgage late information is floating out there, it's an "OH S***" moment and really wakes them up.In fact, when my wife and I realized that there were several of our neighbors on the mortgage late list (none that we know personally), my wife said to me, "Don't you dare ever miss a mortgage payment!!!"

Omg there's a bunch of testosterone floating around on this thread.

He's passed away, but his audio CDs are still floating around out there.

Laminate, or floating engineered hardwood, can be maddening for downstairs tenants in a stick-built multi!  

Anyway, we pulled them out, patched and floated the holes, and then painted the interior.