If that money runs out, Medicaid will step.To prevent abuse, each state has stringent rules including "look back" periods where the state can disqualify someone based on the transfer of assets.

There's always ways to increase response and conversions, but remember 20/80 rule.

Some institutions have their own internal rules.  

When you refinance a property, it's already in service, thus no adjustment to depreciation.Special rules apply to primary residences converted to rentals.You should understand how refinancing a property will limit your ability to write off the interest.

And once you know your situation based on your jurisdiction (see your relevant landlord tenant rules too) layout, and situation, you have two choices: (1) DIY or (2) Hire it Out. 

Hi guys,I have 3 questions about the 1% rule for rental properties.

Here on BP you can do that by adding a picture to your avatar.Understand that beyond understanding the technicalities of rules and regulations, real estate is about market conditions and helping people to get to yes.Get to know your target market like no one else.Develop your ability to empathize what's going through a buyers head and a sellers head and figure out what you as a real estate agent can do to address concerns.Neither of these are limited by your age.Good luck!

The 70% rule says 95k. 

Try: "sample lease" and "lease clauses"  .Modify anything you find so it is in compliance with the landlord-tenant laws for your jurisdiction.Also, don't forget about establishing property rules.

During the original go round at selling, we were under contract for 25k less than what we paid in 2010, which is pretty much the norm, in this market, for CT homes without any significant improvements.