If they DO NOT charge rent they may deduct the additional interest and RE taxes.

No jon I am honestly not that cold hearted of a person to do that to her and really dont want to mix family with business, so if I could her with that I would not charge her for a name.But I was wondering in general when dealing with other ppl in the same situation.

Living it too often turns a "house" into a "home" and generates emotional attachment.

there rent is going to be late, well you'r required to charge them the late fee, its not your rules, its your job. you dont get the money and it doesnt effect you at all, they almost seem to think your more on there side if you live in the multi unit and are not the ownerHundreds of small situations, and your tenants are more likley to tell you stuff IMO if they think you are not the owner.

Remove the emotion of a loss here and a gain there.

Still, you want to maximize this percentage and so we can pretty much completely throw out and ignore anything we can't charge at least 1% of the price, so the second one which would cash flow like 50$ is gone.The first one depending on your goals is at least feasible, as Jon said it would probably cash flow 200+ a month on average with a cash return of 7-10% depending on if you did the management.

There's too much irrationality in real estate to get yourself emotionally attached to any property you don't own.

I looked at investorsaccounting.com and saw that he charges $450 per hour!  

I like Jon's idea of charging the remaining useful life and would consider it as a legitamit reason to take some of the edge off the cost, too.

And finding the tenant and getting them to sign a lease etc,. is easy because most realtors can do that for you, they charge about 50% of first month's rent which I believe is well worth it.I live in the dallas area and I typically don't even look at the properties (for most cases) , I have a good contractor who will look at the property and run the numbers for me on the repairs.