Now I very nicely remind them that in order to make this round of golf tax deductible we need to talk a little business; I chuckle smile and enjoy the golf.I always managed to get a little conversation about loans my current ones and projects in the pipeline.

Any unemployed tenants got a bonus $600 per week which was more than their job paid in some cases. 

This will give you a basic, well-rounded understanding of the fundamentals. 

It's been solid and has avoided the "oh Im out of town and will pay when I get back" run-a-round from tenants.

(I know a Dallas guy who started with a $1k bonus from his mechanic job, bought a duplex from the bank, then sold it for a $27k profit.  

@Ashish Acharya investing the money into a new asset and take the bonus depreciation write off?

Biggest down side would be potentially extending that 2 hour round trip commute a few months longer than planned depending on the degree to which the property needs to be improved.- Move in Ready - For simplicity, I have considered the move in ready route then attempting option 2 in a year once I can move out.

Tenant pays us for usage year-round.

The property is located in Round Lake, IL.

One management company I often recommend is owned by a guy who is also an architect, an added bonus when it comes to structural knowledge.