Problem: Set & Forget - Most people know the importance of an accountability partner when it comes to goal setting.

And they should have accounts for everything with heavy discounts built in for their quantity buying.

., and in your analysis account for slightly higher PM fees.  

I would definitely ask your accountant before making any changes or opening an LLC.

I recommend finding a real estate and business accountant to help you with filing your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

The 1% rule doesn't matter as much if you have a 5-10 year investing horizon because it does not take into account appreciation or other benefits of holding (tax benefits, etc.)The 1% rule stops a lot of folks from getting started. 

Just make sure all pieces are accounted for regularly.

I opened a business checking account with Regions.

Gross profit is interesting because it appears to just be the difference in his acquisition and sales price and fails to take into account the other obvious cost of running that business which includes, again according to him, the cost of over 26,000 letter print, mail, post, and the cost of the lists needed to create a mailer of that size. 

You may be profitable, but I'd prefer to avoid the possibility of having to do unnecessary repairs or not holding my tenants accountable for damage when I know their actions might have caused any unforeseen damage.