Quote from @James Jefferson: Hi, I have a family member that had a reverse mortgage on their property it's a 3b 1b 1 acre of land heats by oil no hvac and on well water.

You'll improve over time, but this basic formula remains.1.

Do you have central boiler for water and heat or individual units?

We basically took his word saying it's in great condition considering its age.

I am basically a newbie but have some experience in a foreign country (Brazil).

Yes, some of the basic principles in ANY book can still be applied to any time.

Hired hourly handyman and friends to assist me in upgrades of windows, door, cabinets, basically all new fixtures in 12/2009.

@Micah Huffman unless you are going to commit to learning some basics about being a landlord AND are willing to commit at least 2-4 hours each month managing a Property Management Company - it's probably best you sell.Otherwise, it's highly likely you could lose more due to bad tenants and management.

It will familiarize you with the basic terminology and benefits.

So basically no money out of my pocket.