We've been doing some light rehab including:New flooring in laundry roomNew hot water tankFaux wood blinds throughouttouch up paint, where neededBringing some electrical up to codeInstalling a microwaveBathroom:  Grouting tub, replacing some damaged tiles, fixing exhaust fan, re-trimming window, new showerheadNew smoke detectorsPainting some built-ins in the basement that were bare woodFinishing off a bar in the basementPowerwash of exteriorNew address signNew mailboxRepair of interior and exterior doorsDealing with a disaster of a yard! 

Now, 80211 is still a very hot Denver zip code, but most of the gay couples have left (or nobody notices anymore really), and most of the Hispanics have been pushed out.  

My family owns a house in a " hot" part of Austin TX.

SLC is a hot market.

If I withdrew YY from my LLC for the year, then I have to file my personal tax based on XX+YY per that year.For the LLC, I will file the tax bases on = annual income from rent - expenses - tax - mortgage - YY.FYI:I do hire maintenance guy to fix major items like hot water boiler, gas heat, .... etc, but I underwent minor repair on own.

I have been to Dana Point, it is a lovely town in a very hot real estate market, and I really doubt you'll be convincing a judge magistrate that you tried really hard but just couldn't find a tenant.As for the advertising for a replacement tenant, that is actually pretty common.  

Depending on how they respond you may have to wait until their lease is up for renewal....I had a 4 family with 1 old steam boiler so I was paying the whole house heating bill (what a nightmare)  I ended up seperating adding 2 gas hort water boilers for two first floor units and 2 forced hot air furnaces I dropped into attic for 2nd floor apartments.I planned this major upgrade right when leases were up for renewal and told them there would not be a rental increase for the next 2 years however you would now be responsible for paying your own heat.

This topic has been debated hotly in a couple of other posts on the forum lately, and I keep seeing people drop the "stay away from Houston" warning in other posts about good areas to invest in.

The other option I am looking into is if I should sell the townhouse to take the cash out (while the market is hot) and invest in a multifamily (in which case, I would not want to sign a new lease). 

The syntax to make a hot link is: [ url ]URL[ /url ] or [ url=URL ]link text[ /url ] Drop out all the spaces.