Living on $2500 and investing the remaining sounds like a good plan even if you choose not to get another job.

Those that want to keep pushing the envelope will get pushed out into the street and the remaining tenants will gain the perspective you want them to.

After expenses including remaining mortgage is cash flow of about $1-$2  thousand per month  assuming all rents are paid and no major repairs...also we don't really have cash reserves for major repairs...trying to save, but these are old units and the $1000 cash flow keeps getting eaten up with new roofs,  AC units etc every once in a while and we are trying to make extra payments on $23000 loan to get it paid off in a year..   

The fact remains that you do not know how hot it was inside the house.

If your electrical load remains the same (assuming it meets current code) you wont need to upgrade your main service.

The other option is to not throw the baby out with the bath water and rent the units to others that want to continue the short term rental strategy.I’m curious to know if anyone thinks that master leasing our remaining units would be attractive to someone either wanting to start their real estate career or expand their current short term rental operations.

If you are selective in choosing only replacement applicants that do not have pets by informing them you will be instating a no pet policy in the future you will be positioned when ready to get rid of all remaining tenants having pets when you are ready.I would advise using only M2M leases for all tenants going forward.

At lease end tenants get refunded  or pay any remaining balance owed for water/sewer/ trash. 

She doesn't know how to record this one because it is different than this assignment fee.My house sold for $55k and buyer put a $10k down payment.The other $45k was taken back as a note which he has already started making payments of principal and interest.Is this the correct way to record the original entry of the owner financed property:Debit cash - $10k (down payment)Debit Notes Receivable - $45k (remaining mortgage note)Debit Accumulated Depreciated - $13kCredit Cost of property - $29k (my original purchase priceCredit Deferred Gain = $39k QUESTION: Is the deferred gain above correct? 

I chose to remain out of it so I did not release the address or any information to the social worker.