I've been told that there are a few contractors who kind of run a monopoly on repairs on the island and you need to bring in your own materials, but the repair work looked minimal.

Get a realtor, do some minimal staging, and if the numbers you quoted are anywhere near correct, it will sell quickly and easily, and you won't have to waste your time moving in.

Remember, landlords are investing dollars to get dimes on return so the dollars you minimize upfront increases the chances they will buy.

The minimal rate the Owner should use is called the “Applicable Federal Rate†and is updated monthly and is listed on the IRS website.

The book will Not go into specific state level laws but does offer links to were to obtain state level legal information.My other advice is to pick up a book on tax advice for land lords to understand when and what deductions your should take for repairs and how to minimize the tax burden from the property.

install locks on office doors, and give him key for only one room..this will at least minimize risk and damage, should something happen

Assuming that operating expenses will vary from year to year, what do you typically do in the years with minimal operating costs?

I managed to find an awesome realtor who is very knowledgeable and supportive of my investing goals and strategies and willing to take a 1% commission for her minimal involvement.Speed Bump #2: So far one of the properties, the negotiator literally told me "Any offer sent in will be countered at $95k, which the FHA appraiser says is FMV".

I would rather minimize the fix up cost and do the repairs myself afterwards.

On the appreciation side, to get that 100k equity gain (excluding principal reduction, which will be minimal) you are counting on 6% annually for the next five years.