Also they tend to be quieter, not throw loud parties or have too many people over, or cause a lot of wear and tear on the house.You can't advertise specifically for "older couples only". 

Hi Sam, there are a number of relevant comments here - in particular around laws and regulations of non-related parties.  

@Gabe GordonCongrats, this looks like a really good purchase on your part.  I

That part is as simple as writing a letter introducing yourself as the new owner, explaining that the existing property manager will stay in place so they should continue to work with her but if they ever needed to contact you directly to contact you at the address or phone number provided.

The rule is in place to protect the neighborhoods that had too many rental homes, with property owners who did not care to keep them up well, and where tenants would park in the yard, have late night parties, and do all the things students do in college.  

There can be no direct or indirect benefit between a plan and a disqualified party, and route one is just using the business partner to benefit yourself.  

The main problem with this system is the fax machine part is awful.

Not only that, but in 28 yrs (when I am 65), I estimated the houses to be around 250k and the rents to have increase, but to be conservative, I didn't add this into the calc.

I know what it is like having a conservative wife.  

Hi Jeff Beard, thanks for the reply.Whilst this is true, the lease has a 3 month notice period for termination by either party.