Last week we decided to take a week break from working on the rentals because we got all of the essential items delt with but now we're back at it and I have around 70 items on my todo list still.

One of your major profit centers, the downpayment from the tenant, is essentially gone.

The Board then voted to repeal Rule 1-1-6.Rule 1-1-6 essentially said that loans on all residential real estate would be regulated as a consumer "residential mortgage loan".

Here I am sure you know what I did and dealt with, almost all the rehabbing by hand, acquisition, valuation, record scrubbing, rental, management, essentially anything an investor can do is what I did.

Also, trying to sell property essentially at retail in a declining market is not a good idea.Good Luck,Mike

You don't want to pay $300-$500 for an appraisal if it won't help... and could possibly hurt.Make sure you know which value (ie. purchase price or appraised value) because that has a huge impact.

Does this impact the remodeling and resale plans I have for the property?

Since the house will grow with or without a mortgage, any equity you currently have in the house is, essentially, earning no interest.

Not to mention, the depending on your niche, things can change quickly.The first question I'd have for you is, what would be the impact of you quitting your job and being out of whatever industry you're in?

He's retiring, essentially, and just wants to be done with it.That said, our current plan is to fully rehab one of the units and then approach the college and find out if they like what they see enough to sign some kind of contract...whether they want to buy, lease, etc.