I know there are numerous threads about the pro's and cons of having an RE license while investing so I will go back and review.

Third, not a numerical consideration, but if the real estate is in a retirement account, you won't really have access to the real estate or cash until retirement without significant penalty.Also, please sit down with a GOOD financial planner & tax accountant before you do ANYTHING.

What a challenge, FYI I have had numerous similar experiences with heat, cooking gas, electric ect- 9 times out of 10 the tenant never turned on the utilities because for the first month or so there is a gap from when you get it out of your name until the service company comes out and formally shuts off the utilities.

Hopefully, that makes more sense, although I'm not sure it really changes the decision at all.Her lender and I have been working together and they actually stated that I should pursue a short sale and that he has personally seen their exception department make husband/wife exceptions numerous times, so I'm not sure who to believe when you state, "it isn't an option."

There are numerous reasons to use a property manager, all of which should play into your numbers analysis.  

If you will have WiFi then there are numerous option that are easy to move around.I purchased an Oplink system off Amazon for $300, and it works great (if you have wifi).

@David Famiglietti,I've done many love triangle and couple-of-couples mortgages (welcome to the Bay Area), it's not really a super big deal once you've got the first one under your belt as a lender.

I have had it happened to me numerous times in the mid west.. for all of the above reasons.And I agree it makes it very difficult to do the sale then move to new home when you can't count on closings like you can in other areas of the country. 

There are numerous academic studies that show valuations in the public markets tend to be a precursor for private market valuations.  

I shopped around and ended up with one policy that covered numerous rentals with an additional umbrella with a rate that was much less than other policies.