So I only pay interest (a very low rate at that) when the line is used and the very best part is I still own the property and I still collect all of my rent every month as I do right now AND my cash flow remains completely unchanged!

Due to the high spring water table (we are in Connecticut), there is still some dampness in a few areas of the concrete floor in the remaining basement.  

I understand that I will need a new lease for the remaining tenant, but how do I handle the existing security deposit.

If you run into more questions or concerns feel free to tag me, as I try to remain pretty active on the forums if time permits.

But for most people it's not an option (and schooling IS mandatory) which means it will always have an affect on property values as long as it remains that way.

If you are looking at a property with just say 4 years remaining on primary you would be likely looking at a high amount down like 75% or all cash purchase.

Whatever your plans are with this property, the remaining taxes due will be paid at closing. 

Should the losses remain unused at the point the property is sold, the losses would offset any gain resulting from depreciation recapture, so the net effect is as if that amount of depreciation wasn’t taken.

Our goal is to reside in 1 unit with our family while renting out the remaining 2-3 units.

Most of the households decided it would make sense to dig their own wells rather than try to patch-up the existing system.Our lawyer wrote up an agreement to dissolve the Springbrook Water System that basically stated that any households who chose to remain connected to the well would be responsible for the further upkeep and the ultimate capping and retirement of the well.I have no idea if this ever happened.