Just keep in mind that it may be very difficult to prove to the IRS you are a REP when you have a full-time W-2 activity at the same time.

Just keep in mind that if it is an older house with cast iron pipes and you lift the foundation, those pipes are likely to break and need replacing - partial or a complete repipe. 

My recommendation is always to start with the end in mind and keeping it simple. 

In situations as so, what should property management services would be put work here to earn their keep to get the property rented.

And you also have to keep in mind that the amount you are pulling from your plan will not be available for investing.

You're truly better leveraging $300k at 7% and keeping your $300k invested elsewhere aside. 

You keep track of all of your real estate related transactions (date, amount, vendor name, purpose, property identifier) and then create a pivot table from this data to quickly create a rough Profit & Loss Statement.

We can discuss further in a private feed if you'd prefer so we can keep this post discussion focused on Michelle's questions.

Sure you can keep dropping the price to get a buyer BUT I think it's just a longer days on market there.

Basically, if I remember correctly, they would put it in a land trust, than have the trust agreement tfr 90% ownership interest to the buyer, while allowing the seller to keep 10%, but the agreement had that 10% revert back to the buyer upon a future sale, or something similar to that.