I told her and her daughter that they could pay me $800 for one month rent and $800 security deposit and they have to let my workers in for the rehab at any reasonable hour and they said they would think about it (no rental agreement signed, but still foolish on my part b/c rent starts @ $1200 in that neighborhood).Because of recent personal circumstances in my own personal life, I changed my mind and decided I should stay (live) in the house and do the entire rehab on my own and contract out only when necessary.

They did a presentation at a local REI meeting recently and talked about this particular circumstance.  

To your first point, I'm highly focused on reducing the tax burden in early retirement: If my circumstances allowed for it, I would to move to a lower COL area/state without income tax and do some tax-gain harvesting. 

Assuming this drops a little due to unforeseen circumstances, and also assuming we do not walk away dues to home inspection or building code contingencies, we should still have a solid RoI.Thanks to everyone who chimed in.

Hank,Yes that is what I was thinking and it would also give me more breathing room in case of a change in tax or any unforeseen expenses.

If an intruder hurts himself/herself while breaking in or robbing your property, they can sue you in certain circumstances and in certain places.If you plan on renting it out, definitely get fire insurance (that's another way of saying tenant insurance) and ultimately, an LLC and a trust are the way to go.

A lot of new investors do not plan for unforeseen costs and improvements like paint and carpet or even bigger expenses like a roof or furnace that your property will inevitably need. 

Due to life circumstances, it hasn't been realistic for me to start looking to buy anything.

I know that banks regularly do not accept assignable contracts but do they under some circumstances?

Make sure it is allowed in your circumstance.