Thanks Ron, I will keep that in mind.

I'd recommend taking a step back from the situation, look at it from a 10k foot view and wait until you can approach this with a clear mind and heart.

I had in my mind it was around that much, but couldn't remember where I got that number.

There are a ton of resources to help you learn on this site.Attend local REIA meetings and connect with like-minded investors: http://www.biggerpockets.com/meetRead the Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingListen to the BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

- property management fee (someone has to manage this property, even if your self managing you need to pay yourself for your time) I would use 8% for a property management fee ( there is a whole litiany if charges such as placement fees etc that get charged as well but to keep things simple let’s use 8%) keep in mind your area might be unique i would call some local PM’s to get a feel for the cost.

:-)  No harm though if you want to run 6g wire for that extra peace of mind.

Premium, Par, or DiscountWho do I have in mind to buy?

Also keep in mind that the definition of a gift would entail not providing your mother a rate of return. 

Keep in mind, I was still responsible for urgent repairs/habitability even though the tenants were there illegally. 

My original plan was to remodel my home and use it as a rental but seeing how much equity i have gained in such a short period of time I have changed my mind.