Plus is a great income if you decide to rent it.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

The house to produce some income, the acreage to sell to a developer some time in the future.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Non deductible, Better Proximity securing loans) "ROIsoonest months"        Unknown*  “Cheapest”. 2nd. 3rd     Unknown* Deals, Off Market, brokerage, government, 4thJudicial, Move to USA 1031Tenant Management due diligence   Unknown*Previous landlords Credit score,eviction record, income to debt between 40 and 60%,hours at home,Pets, poor character appearance Ie tattoos,drugs,crime,personality,dirty car.Value Add focal points          Unknown*Raise the rent,Rehab, maximize rooming, section 8, Reducing management “general”Rehab etiquette       Unknown*compartmentalizations & entry,Colours, Lighting, Fixtures & Amenities, floor, bathroom cheaper / kitchens, fixed stylization.

Using the rental income should help you buy more...if you have the other things needed for a loan like that.  

It sounds like you have some higher end employers in your area as well so you may find corporate rentals to be a good fit.

Does he have to report the income he received this past year and declare it a rental event though he would like to move back in eventually? 

I was laid off in December and would like to start investing full time (because I don't want to go back to that corporate grind ever again!).

In of your other threads, you seemed to be interested in other debt investments that generated income. 

This all depends on your income and risk tolerance.