If neither of you have done it in Philly isnt it an issue of the blind leading the blind?

Did you ever follow up on this lead?

Hi @Daniel PitnerOne way to get leads is to purchase lists (probate, foreclosure, etc.) from companies like ListSource or PropertyRadar.

@Mike Stadel Did you research this at all online??

Oh, the joys of online communication!

On a 1099-R, Box 1 for "Gross distribution" is basically "income" on Line 15a of the 1040, right?

The issue is although it is a two bedroom, the 2nd bedroom is actually a former tuckunder garage, it has a door leading to the outside, no bathroom in the immediate vicinity(the bathroom is located next to the master bedroom upstairs), and is the only access to the utility room. 

But if you want a link to online calculators, here's one from Bankrate - which can give you a rough idea anyway.  

Its possible to adjust rentals during those years according to a formula that - in my experience - leads to rents ca. 50% of market rent.

Ignore the emotional, you’ll find out the hard way some folks are like that and some lead sources aren’t the best.