Long term appreciation is a great bonus!

Here is a bonus rule.

I think what I will do is offer some sort of % bonus (e.g. 10% to 30% of profit) to the contractor...... as long as the deal is profitable.

I like to put my money in Real estate investments with 20% cash on cash returns.If you like CD or savings account I recommend opening accounts and collecting opening bonus 100 - 400$ all around town.

This feels like the perfect opportunity to get some serious travel bonuses.  

So, you do not get to own bonus properties because the deed is wrong. 

Bonus question: What else would you (or do you already) automate in your landlording and/or real estate business if you could?

Even with the bonus of proximity and decent cash flow, this deal is a dud at 185k.

A buyer's agent bonus? 

(it doesn't)5) Bonus the handyman generously for babysitting while you are gone.