Your personal financial position will play on the right choice, are you retiring in 18 years or 8 years, and too much equity can be difficult and expensive to take out of the walls later on.I don't hold very long, at about 7 to 10 years the depreciation falls with less of an advantage, that means it goes up for sale.

From my research white seems to be the best choice because it's "timeless" any thoughts?

But the best way to do this is use an auto body paint about 140 a gal spray them with the color of choice( don't paint rental property cabinets white!)

IN Oregon Nope... you can get insurance but you can also have issues.. it won't be cut and dry yes no but it can be a problem.But I do know many other states title companies won't insure them... so your advice is very good.as for this scenario if there is plenty of time before the sale.. simply open escrow at your title co. of choice .. to a purchase and sale agreement that has the tax's being prorated at close .. and let the title co.. collect and pay the tax's in escrow.. sale is put off you get home with title insurance and all is well.

I wish Gurus would stop mentioning them as they are usually a bad choice. 

GO CELEBRATE EMOTIONS WHEN YOU SCORE THE BIG PROFIT AT THE END OF SALE OR REFI AT THE BAR etc etc lol.The bank will go lower, they always will go lower.Banks are down right retarded about money when it comes to an REO - they make bad choices financially from our perspective looking in, but that is what creates opportunity for people like us.A good deal......... depends on the ARV and trends in that area (comps) I don't know any markets in Illinois but nationally in compact areas if you can still get it bought 25-30% below the comps then that seems to be good.

Also involved in a personal residence you would make different choices on how much to invest into things like fixtures, flooring, paint color/quality etc etc etc vs what you would choose for a rental which most often are less expensive materials and really not custom in any manner shape or form, so your "home" for a couple years might have all kinds of more expensive inputs and then end up as a rental unit later which may or may not be a good use of money after all.

Perhaps Florida could be a great choice to buy a vacation home and invest.

That is her choice.

Personal choice, I use JT in my family and we have other agreements/arrangements to govern. :)