I Have a great tenant that has occupied the property for nine years which is two years before I even purchased the property, she always pays the rent on time, and the repairs I've had to do to the apartment have been minimal, but she has a roommate that she is no longer getting along with and she would like to move her boyfriend into the apartment, but her roommate doesn't want to vacate voluntarily.

It indicates you're serious and will close the deal...

A lot of companies have switched from selling to owner occupants to investors, in order to minimize compliance issues.

A quick search pulled up the following article, which seems to indicate your son may be too young to employ in an office until he is 14, but that is hardly the final word on the matter.

This allows us to make the best use of our time and minimize the inconvenience to our existing tenants.

So the asking price or indication is about $22.8k or 65% of the property value.

2) Should I just do the minimal work to get it into a state where I can off-load it quick, but limit my potential for profit?

While I had to work minimally to acquire it, it truly just fell in my lap and I cannot be credited much for that portion.

Other options are possible, but the real key is to understand the tax consequences of what you're actually doing and do what you can to minimize taxes.

Also, the tenant seemed to have a significant interest in buying the property too so that may indicate a longer duration to live in the house.As for costs, calculations, and cash flow, here's my math:Income - Expenses = Cash Flow/Month.Income(Rent) - Expenses[Property Tax + Insurance + PM + Mort. + HOA + Vacancies(10% rent) + Repairs(5% rent)] = CF/M.Income(2500) - Expenses(PITI + PM + HOA + Vacancies + Repairs) = CF/M.Income(2500) - Expenses(1670 + 0+ 0 + 250 + 125) = CF/M.