Make sure you're paying any underlying mortgages directly, don't let him be a failure point that loses you the property.You could consider using a Contract-for-Deed to allow him to retain the deed, but you're still the owner as long as your in accordance w/ IRS installment sales contract guidelines. 

I have a few suggestions.Test for asbestos in insulation, dry wall, siding and linoleum tiles.

Foundation issues, stone wall bowing outward.  

All carpets were replaced and wall / ceiling paint and floor sealer.

Would you sell out and invest as fast as you can find good deals, knowing you'll have to stop and wait when you hit the "seasoning" wall?

May consider tearing out walls as may be cheaper and faster that route especially if all electric, plumbing and heating need done.  

However, since I use a GC the ordinances actually swing the other way and they require permits for hanging more than 100 square feet of dry wall, third party inspections of any electrical work, etc... my point is the list of what you need a permit for grows pretty quickly once you sub it out. 

It seems I'm required to retain my current home as my primary residence for the next ten years.

Don't climb an investment ladder to the top only to realize that its against the wrong wall!  

Went to install it and the toilet lower half went in fine but the tank hit the wall and wouldn't seat properly in the lower half.Measured the rough in distance and it came in at 9" , the old toilet had already went into the dumpster and off to the landfill, so there is no turning back.So now i'm curious, how much space does a 10" rough in toilet typically have behind the tank?