The assets of the revocable trust can also be subject to "elective share" claims upon death - which is a default percentage that a surviving spouse is entitled to receive from the deceased spouse's estate.Upon death, the trust become irrevocable and cannot be changed.  

Just saw on the news that a nearby apt from mine burned down and resulted in one death.

@Bram Spiero The property manager is 10% of the rent, which I think is pretty standard.This forums seems to be all about details and real numbers (which I like), so I guess I'll share on my duplex.Purchase price: $295kSide 1 (3 beds/1 bath): $1350Side 2: (2 beds/1 bath): $1200Basic Income 2550 - basic expenses ~2171 (water varies, mortgage, management fee, tax, insurance) = $379.  

A 28ft by 48 ft 3 bed 2 bath Mobile can bring over $50K in the right market.  

I hope I'm not making the rookie error of asking a question that's been beat to death five ways to Sunday around here.

Works well in kitchen, bath, laundry, mud room, living room, bed room.

For instance, you have four bedrooms but they're small and the overall size is small vs. other four bed units. 

I will add a half bath now, and then an addition of a master bed and bath before resale. 

Let's say traditional:You would need at least 20% downPurchase Price: 84,900Down Payment: 16,980 (down payment)Financing: 67,920Monthly Payment: 327 (PITI 500 or less)Two beds are renting for about 750 month in that area50% rule leaves about 375 to pay Mortgage.That is very slim, and if the monthly payment is more than 375 then you are losing money.However, that is just one scenario out of many involving a lease option.You could have the tenants pay a premium which would cover the mortgage and get you some cash.

As a testament to God I thanked him for the sunrise that morning, and the sunset that night, and thanked Jesus for living the life we all should live and dying the death he did to save each and every one of us.