My wife and I were able to put down 15% and get a conventional loan on the property so the PMI automatically drops off the loan and we will not have to refinance out.  

@Patrick Irish based on what you say, the Sec 121 Exclusion and the 1031 Exchange both seem like they'd be good options for you to defer capital gains on sale of the townhouse.Sec 121 Exclusion has 3 requirements: First, Determine whether any of the automatic disqualifications apply (acquired property through 1031 exchange in last 5 years, or subject to Expat taxes)Next, meet the ownership requirement -> you owned the home for at least 24 months (2 years) out of the last 5 years leading up to the date of sale (date of the closing)Finally, meet the residence requirement -> owned the home and used it as your residence for at least 24 months (or 730 days) of the previous 5 yearsThere is no “Wiggle Room” but there is a Sec 121 “partial exclusion” for people like you that missed the residence requirement by a few months.

You should own up to your word and then in the future either hire a property manager or get property management software that allows for automatic payments and accepts credit cards.

.  ;-)  Lying is automatic denial.  

They prepare Schedule E automatically. it works great for me. 

It is automatically accounted for in the GaaP accounting system. 

Only thing to add is have all repeating expenses on ACH automatic payments.

If it is not vacant by date of your walkthrough, your deposit is to be refunded or the contract automatically extended.

As a real estate agent I can setup automatic searches that only look for foreclosures.

They currently drop the rent checks in a drop box.Any idea of how to switch this to an automatic payment instead, even though it is not mentioned in the leases.Any Suggestion of the best services/websites (as a 3rd party) that provide this auto payment Thanks.