That's definitely a motivating factor to not ruin the garbage disposal.And the other idea I've had that doesn't seem to have been brought up is to do a lease option on the property.

That will depend upon your goals, other income sources AND several other factors.

As she began having a hard time living on her own, and we were building a new house, we designed a room and living area specifically for her.

Have you factored in turnover rehab, CPA/attorney fees, Evictions, etc into your calculations?

After seeing it for a planning process, I'm absolutely certain that if I tried to change my zoning from sfr/duplex (the current designation) to a triplex designation, I would have to fight my neighbors tooth and toenail.

Your goals and use of the property are also factors as Rudy mentioned. :)

On to 2b:Cash Invested: 28000 (20K down, plus closing, cosmetic fixup, and holding costs)Gross Annual Income: 14400Expenses: 7200Debt Service: 4723Cash Flow: 2477An income of $2477 on $28000 invested gives you a pre-tax return of 8.85%.The fact that in 2b you leave the mortgage in place introduces another factor – mortgage paydown, which affects both your taxes and long term return.On an 80K loan with 4.25% interest, the principle is reduced by an average of $112 per month during the first year, or $1349 total for the year.

Factor in that your costs are probably going to be higher, and your income could be lower.

(permits, fees, bringing in utilities, curb, gutter, sidewalk, school fees, design fees, etc.)

I passed the exam with flying colors and believe that the training I received and the practice exams were a big factor in my passing the exams.