One thing about models, they always predict the past perfectly but don't do so good about the future.

There is no perfect solution to address your question.However, I would add that just because you have a capital gain event every few years does not mean that the investment underperforms on an after-tax basis to a buy and hold strategy. 

Perfect, thank you very much!

I have spent several years perfecting and sourcing undervalued property for immediate resale. 

Not a perfect analysis, but it seems like responsible owners tend to have better behaved pets.As far as smoking, I've walked into enough smoker's homes and suffered through the smell and the yellowed molding enough to never want that in a property I own,. 

I also vote no-go.If everything goes perfectly, this deal on paper works, but we live in a world with vacancy, improvements, modernization, property management, and surprise issues (roof needing repair, needing a plumber, fixing the garage door,..)If your goal is to buy an investment, I can help you find better deals in the Twin Cities.if your goal is to buy something close to where you personally live at this point in time, you already have the answer.Again, I vote no-go.

Perfect for either investment strategy you're looking to do.

There are rarely perfect persons wanting to rent.

It’s a low income home so I don’t expect them to be perfect however I see now that collecting the rent is slowly becoming an issue each month.

It always starts great, works out perfect on paper and then it almost always goes sideways and it is never the family members fault.