My wife and I took it upon ourselves to remove several bushes in the front yard in preparation for the landscaping (to save a few dollars).PLANNED TASKS FOR THIS WEEKFinish electrical throughoutFinish interior paintingFinish siding installationFinish kitchen cabinetsInstall kitchen countertopsInstall plumbing fixturesAppointments with flooring installers and glass shower enclosure companies are set for Tuesday to get quotes and schedule installGet fencing and landscaping quotesOTHERAfter thinking about how we have been submitting offers and gathering some information online and at last week’s REIA, we are going to approach this in a different light.

I told the tenant that how could this be, everything is bran new, from walls to windows to lights and carpeting. 

It's only 15 minutes via Light Rail from downtown, and has a great neighborhood vibe to it with skyrocketing rental rates, definitely a hot area.As for what to do from here now that your personal funds are tapped out, one strategy I have heard used is to put together case studies of your two properties, and then present them to colleagues, friends, family and let them know what you are doing, what your returns are, and see if there is any interest in leveraging your experience to do a joint venture with someone.

They are picking up the "near miss" folks that can see the light at the end of a short tunnel, and it's not a train.Thanks @Brian Gibbons  I didn't realize you read the WSJ.....LOL :)

A lot of 3 unit buildings we have 4 meters: one for each unit, and then a common meter for things like common heating, outdoor lights if any, etc. 

All new appliances, retexture the whole interior of the house, repaint the interior of the house, new light fixtures, new furnace and duct work, and new insulation in the attic.  

.$28K is all Exterior (Siding, Roof, Light Landscaping) and Interior (Kitchen, Bath, Light Drywall, Minor Plumbing Repairs, Paint, Trim) but this number is bumped up a few K like I mentioned earlier.Right now this is part-time but we are working to make this a full-time endeavor and should do so within a year assuming the market doesn't nose dive like it did in 2007/2008.

@ Jordan Light thanks for the response!

Now, something that has since come to light is that it has the house has baseboard heating. 

Income & Activity:The income created from lending activities cannot be a significant part of total income, going over 50% will place you in the business of an activity, this is viewed in light of IRS business income just as any small operation or hobby type activity.