Hence my desire for asking the question as there are so many “processes” to choose from.

Sixth, you don't have any PM fees that will eat at any income (if you choose to self manage).Good luck!

I had been thinking for the last year plus that this house was the one on my block that met the perfect "driving for dollars" criteria- yard never kept up, weeds growing from gutters, chipping paint, etc.  

You can fill the holes and then paint with an exterior concrete / basement floor paint.  

@Matt HoltI understand that many people choose to put properties under there own name and acquire umbrella insurance policies.  

As a consumer you can choose not to deal with them.

Both buildings are in great shape and I just did roof repairs and painting.

It takes less than 2 weeks to find a qualified tenant and process them through a rigorous tenant screening process.Even in situations where there will be some re-painting and some renovations, the tenants are just happy to find a secure, good apt in a safe and trendy neighborhood.When I build my Business Plans, Vacancy cost is projected to be ZERO in my investment localities.If a friend or relative invests in a different location, then I look at the asking rent versus the Fair Market Rent (FMR).If the asking Rent is approximately the same as the FMR, then, depending on the vacancy rate of the target area, I would estimate 1 month vacancy allowance.IF the asking Rent is significantly below the FMR in a highly dense locality, then there is no point on adding a vacancy of any significant value.I once had an apt with a FMR of $3k per month.

If you choose to raise his rent slowly he will eventually leave anyway so all you are doing is losing money till that happens.

Interior is freshly painted 3.Interest rate is at 4.25%