Long term wealth comes from items #2 and #3: appreciation and mortage pay down. 

This is a separate conversation though.

I have done some research and I have some basic understandings and questions1) Looks like I need to know a "conversion to rental date"  Is this just any date I want to pick after the 2nd house closes? 

Biggest deferred maintenance item is one parking lot needs to be resurfaced. 

If there are any belongings in the house you should post it for 10-15 days so when you do toss the items in the house you have a record of posting the door. 

After an altercation and a couple of tough conversations, she agreed on 106k.

No entry basement conversion complaint .CN196029Post name, address, and telephone of owner, owner's agent for managing, controlling or collecting rents, and any other person managing or controlling building conspicuously where accessible or visible to public way. (13-12-030)Building - No owner's I.D. sign posted .

It's a trial item so possibly Vancouver WA only.

@Will GatesBest way to estimate capex is to take the estimated cost of all major items.

You would have to appraise the property and pay taxes since conversion is a taxable event.There is no way to put property that you personally own into your retirement account.