Granted you have some control over when you take withdrawals and therefore when you’re taxed – you certainly have limited options.Contributions are locked up for decades – Distributions from a 401K plan prior to the age of 59 1/2 are subject to early withdrawal penalties of 10% in addition to the income tax.

My goal is to beautify the neighborhood, and control of assets is the most important thing at this point when it comes to investing, so I'm likely not going to sell this for a long time.

Also, the KP would want more control of deal which is something I would negotiate and workout. 

You have instead a thermal control problem.

No rent control or rent increase increase limit for these towns , right ?

They control building on waterfront, navigable rivers, ocean.

I would say don't spend a lot of money converting the garage into a game room unless you're going to climate control the garage, because 7-9 months per year your garage is going to be virtually unbearable to hang out in to play games.

I guess me showing him how to shut off the water to the sprinklers and tell him to download the manual for the sprinkler controller is micromanaging. 

The really nice thing about this strategy is that you control the pace. 

The market has slowed down and correspondingly good deals have as well, but we never control the market, we only control our own actions."