Yes I have enough for one year but would prefer not to be stuck with no tenant for a long period of time, that's where my hesitance lies with everything that's going on...  

Thats a good point and helps with understanding which one to prefer over what.

By Wayne's method, you report $9,000 income and $0 commissions - same end result.Neil's method is technically correct, but considering the lack of contract, I'd prefer Wayne's method.

That being said, I would prefer to setup payment plans than to pay for turnover costs and vacancy plus there is the risk of the tenant quality of a new tenant when I know I already have a good tenant who fell on hard times.As for the future - all speculation here.

I would prefer to save the money as cash.

Make sure you loan officer and realtor are both knowledgeable about investments, and preferably make sure that they are investors as well.

But folks prefer newer and small yards (apparently).

As the economy rapidly deteriorates, banks will inevitably prefer to have larger cash reserves. 

Preferably someone who is familiar with VA law (this is where we intend to buy)? 

This has given many a very bad taste in their mouth against outsiders.