Home prices have however risen during this time by almost 20%.I think the former was due to supply of new rental condo units and renter fatigue with high prices and people choosing not to live in the city but explore other options in neighboring Oakland etc. where rents are relatively cheaper.

I do like having one of our units available to lodge family, friends and long-term tenants coming from out of town to view our other properties.Rick

Our Business Model isn’t about making a ton of money, but to help bring life back into time-worn properties in our town (okay, maybe make some money!)

Personally, I prefer to manage all my properties because a) no one cares about them more than me, b) there's no PMs in my town worth a crap anyway, c) my properties are fully renovated and rent so fast that PMs would do virtually no work for their pay anyway, d) I'm a control freak, e) I make more money. 

@Basit Siddiqi: They are exploring IRS 121 now; looks like they will be able to keep a good portion of the money to help their parent out.

Looking forward to getting to know your team a little more as I explore the Tucson multi family market this year

Thank you for your guidance - I am exploring some other options as well.Thanks!

I must have called a dozen local banks here around town without getting any response before finally settling on one.

You might want to meet with an attorney to explore your options. 

:-) Hi Stefan, I am not going to be in town this week.