It can always be done. But you really need to be patient. Remember that "Patience is a Virtue". So with patience, and a little bit of luck we could pull things out. DO NOT QUIT. That would be the appropriate term to use I think.

I think you could extend. But make sure that it's within your budget. You said you'll be staying for 2-3 years right? Is your place a great site for buyers? Well, every year prices of houses and lots goes up. So I think its a good idea.

Yeah, that's what it always say but all I do  is just pause for a while and know what my subject is about and just find a good keyword to search the web and there it is. But sometimes it takes so much more reading for me to really understand about the topic.

Would you recommend a duplex than an apartment? Would you rather recommend a triplex than a duplex? What do you think would be a great project?

If the condition of the house is good and where it is located is a factor to be looked at. But what about when The place is exceptionally great and the condition of the house inside and out is great but what would be the difference if the property is actually within the city limits and out of the city?

I agree with brokersperth on this one. It depends on the contract if you have any though. The better the place and the more it is where people notices it then there's a big possibility that the tenant would stay longer.

Maybe its high time for tradam to give back to the parents. Great job.

Yes, always take precaution when dealing with those. You should consult first before you do it yourself.

As long as the roof is still in good condition, you don't have to rush things. You could still plan on what you are going to do about it.