Once you have closed on your two-family property, you probably will waste no time in fixing up the apartment and looking for a tenant. In fact, most homebuyers in your situation work on the tenant's unit before their own, to get that rental money coming in as quickly as possible.

When you're deciding how much to ask in rent, remember there are all sorts of variables to consider. For example, the apartment down the street may not be as fancy as yours, but it is only two blocks away from the grammar school, while yours is eight blocks away. That could make it worth more than yours, even though your unit may be larger or nicer.

You can talk to some local real-estate agents about rents. Some offices have index cards showing listings of apartments for rent in their windows, with pictures and prices. You are under no obligation to any real-estate agency. Most help as a service because they hope to secure your rental unit as their listing and, in the future, your house when you decide to sell; it pays them to be nice. Renting is often a sideline to their more profitable business of selling. If you do give a real-estate agent your listing, he will find you a tenant, usually at no fee to you — the tenant often pays the realty office.

Would you rather run an advertisement yourself to find a tenant? List only your telephone number, not your name and not the address of the property, just its general area. Do put in the rent you are asking, along with a brief description of the apartment and the neighborhood. It is a pain in the neck for would-be tenants not to know the rent, and you will just be bothered by phone calls from the curious if you leave it out.