Also, when the minor child reaches the age of majority, asdefined by the law of the State or Indian tribe in which the reporting company was created orfirst registered, the exception no longer applies.

I strongly feel a bank would be cool using an escrow account for verification of funds.

What other aspects should I keep in mind and look out for in a property of this age and condition?

@James McGovernA D Class property is based on age, and location.

Congrats for getting started at age 21 and I really wish you a lot of success, but I have bought my first rental property in Milwaukee 15 years ago and frankly, the market was much easier back then, I did not have the expense of a PM and cash flow was solid at about $200, but not amazing.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

We say when you are in the REIT, "you are in it to win it" but their hold is much much shorter than yours would be at age 41.  

You don't know any roofers, so you just pick one out of the yellow pages (yeah, I'm showing my age) and they got 1/2 way done and then went to do another job and it rained, destroying your roof? 

The goal is to have control of my time and make memories with my family - especially while my kids still like me (ages 8 and 10).

Cities that require each:Soils reports ($6-7K for report & required work): Carlsbad, Chula Vista, Encinitas, La Mesa, National City, San Marcos, VistaStorm water management ($5-7K): Del Mar, Encinitas, VistaBuilding Verification Survey ($3-8K): Del Mar, Oceanside, San MarcosUtility upgrades are also a very important consideration, and City of SD in particular is enforcing more requirements than they have in the past, e.g. water fixture counts and requiring ROW work to upgrade.