But I would make sure that he is fairly compensated for his extra time, expertise, and expense going forward.

My 2nd unit is a 3/1 and mine is a 2/1 with an extra large living room and sunroom.

State and local governments have been significantly increasing taxes on rental income over the last decade by adding or increasing sales tax on rental income, Forcing all real estate owners to get liscenses to be able to rent properties, increased government inspections of properties prior to new tenants moving in, increased property taxes, etc.

As you get experience, work your way up in the quantity of your apartment complexes.Being able to use the cap rate when adding value gives you more "bang for the buck". 

Since I don't want to pay for tenant utilities, they would need separate HVAC and hot water in addition to the metering.The second kitchen and related plumbing/electrical work would definitely be an added expense - laundry hookups too for that matter... but if the numbers add up that shouldn't be a problem.Is there anything else I'm missing or could be overlooking that would throw my numbers off significantly?

you and your family lived there for 5 years and didn't hear voices.. so, IF they are suddenly  hearing voices and things are getting moved around by other "room mates" it probably means THEY came with "these ghosts" and I would ask them how many ghosts are there in the house, whatever they say, 2 or 3, then say "oh well I can't believe you guys brought in additional tenants without my consent,  unfortunately rent has to be adjusted because of the EXTRA tenants" hahaseriously, ask them if they are looking to break the lease and move out of the haunted house?

I bought just over 36 acres in 2009  and have added a barn and infrastructure to build a home in the future but I have now decided to move from my current area.

I agree with Corby.if it is cash flowing well, why get rid of it.I am growing my portfolio by adding rentals with occasional flips on properties I don't think are well located or have some good cash return on them for funding additional rentals.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

My girlfriend and I have stable jobs with the government and we max out our retirement accounts (TSP, Roth IRA, HSA), and we’re now looking for ways to deploy our extra, after-tax savings.