Also, despite new home prices and the premium that the energy efficiency will confer on my tenant will make this a particularly rentable home.

Man I'm almost to the finish line with my 2014 first project and kitchen cabinets are a week behind and then today we are hit hard by a snow storm here in Maryland.

It is my understanding you do not use rate of income until you hit 5 units and it becomes considered as commercial property.

Also, if an association can gather enough owners to vote for it, they can change rules even after you buy (changing from allowing renters to owner-occupant only) and hit you with special assessments, so associations are scary.

If you are really going to hold forever and you really want to pass this on to your heirs...Get a good estate planning attorney NOW because you want to get these assets into protected structures that can increase in value without ever hitting the estate tax exemption limit.Over the years, I systematically moved income producing real estate into GRITs, GRATs and GRUTs and now no matter what happens it is all out of reach of the estate tax man and creditors.

I actually never heard of assigning a contract until I hit NJ.

It isn't efficient at all.

Second: Any specific strategies that make the process more efficient?

My house is hitting the centennial mark this year (Woodland Heights).

(I’ll take the hit to my credit score for a couple years)Ideas to Improve Cash FlowI see these as non starters as they are going to increase my out of pocket expenses.· Adding a studio in the attic, below average chance of getting a variance from the town, and it will increase expenses.· Adding a 3rd bedroom to the 2 bedroom unit, again need town approval and will increase expenses Lost rent during work, construction cost, but would generate about $300 more a month in rent.· What about short sale?