It will include a compact bathroom, a tiny kitchen area, and a heater—just the essentials to make it comfortable for someone to stay in.

In the spring you can list it for market rate and have better marketing/screening strategies in place.HOW TO SCREEN APPLICANTSI recommend you include some of your key qualification criteria in the advertisement.

From what I’ve heard, there are reputable local management companies in regions like San Antonio or Omaha that handle everything from screening tenants to arranging quick repairs.

I would work on my communication of my processes including letting them know asap of their schedule with me. 

You must be pretty good friends - most veterans (including myself) would never let a non-veteran assume their loan b/c the VA loan entitlement is not restored until that loan is paid off.  

My aunt wants to do 50/50 on everything including rent.

I can build a 4-plex, four two story units side by side, with a total of about 5000sf for about $1m, land included.

With $150K, I could easily put together a portfolio of 6 rent properties from deals I see every week, including last week.Just get started.

@Robert McKay, yes, I believe it was for IL tax withheld for those of us who chose option 1 (to be included in their IL filing).

@Nate Pucel The depreciation basis for a rental property includes the purchase price plus the cost of renovations and improvements that add value or extend the property's life.