., an actual rentor in with a lease agreement is great documentation.Email conversations with your professionals strategizing on how to treat this property long term is also documentation.Getting the property on your Schedule E is pretty important as well.All of these things paint a picture. 

There are jobs, infrastructure, great location, many jobs for young professionals, of course HOA dues weigh heavily on the return on rental incomes plus other expenses that occur but otherwise, is downtown a good investment considering “location, location, location”?

As a Real Estate professional you should know about:  Lease with Option to Buy, Contract for Deed, Rent to Own. 

UNLESS, and that's a big UNLESS, its on a prime block and already being professionally managed with a positive history for at least 2 years.I like @Jeff Burdick's recommendations. 

Need help from 3 professionals: a 1031 intermediary, an accountant and a lawyer.6.

Jay Jones you may want to consider that you might be getting “set up” by a professional tenant.

My husband (whose my partner) calls his two cousins and makes his way down to Philly...2 hours later he’s on FaceTime with me and there’s a family of 3 with a babyboy about 4 years old living in our flip, sleeping on the furniture that’s being used for staging, they moved in yesterday!!!!

She hasn't been sleeping at the house because of the cold and it isn't even winter yet. 

Do I have to mention any thing about his documents in the contract like Driving License # or professional license # etc?

Then they lock up after, and report back to us.If that trusted person is not a licensed real estate professional, they should inform the prospects to contact you, the owner, with any additional questions, and how the application process/screening works--they are not there to answer questions, only to open the door.Hope this works for you as well as it works for us!