@Chris John I appreciate the information greatly I will take that into consideration.

It should be noted they both also have 401k and other funds, for living off of but I did not take those funds into consideration here. 

You also won’t have to qualify for the loan, so your credit isn’t pulled or taken into consideration for you to obtain financing.

I won’t cash flow at all. what other considerations or issues should I consider- when I try to self-manage?

Take that into consideration. 

Tax considerations should always be a factor in a sell or hold decision. 

However, if I use the adjusted taxable income from the Qualified Dividends and Capital Gains Tax worksheet, that I’m allowed to do, then the tax is what I paid in my initial return.I’m thinking the IRS software for 1040X returns did not take into consideration the Qualified Dividends and Capital Gains Tax worksheet correctly.

Natalie:Location is a big factor in what is of more consideration: cash-flow or {market} appreciation, even if you will be forcing appreciation.In our markets one can anticipate modest appreciation - hopefully ahead of inflation - but we never count on appreciation when underwriting a deal ...

Aloha Sharlene, my wife and I committed ourselves after careful consideration to real estate on an ethical basis and so we could finally have control of our own finances and not be at the whims of fund managers, world geo-politics and fee gathering agencies.

@Joey LockerYou could but there is a step missing which is the subdivision plan that you are proposing would take significant cost and creation of HOa docs.That will take considerable time and $.