INCOME: $‎0.00 GROSS INCOME: $‎3,750.00 EXPENSES: (MONTHLY) SAVINGS (WHAT IF) TRUE EXPENSES CAPITAL EXPENDITURES: $‎375.00 $‎375.00 $‎0.00 INSURANCE: $‎38.47 $‎0.00 $‎38.47 MAINTENANCE: $‎375.00 $‎0.00 $‎375.00 MORTGAGE PAYMENT: $‎512.45 $‎0.00 $‎512.45 PMI RECURRING: $‎92.80 $‎0.00 $‎92.80 PROPERTY MANAGEMENT: $‎375.00 $‎0.00 $‎0.00 REAL ESTATE TAXES: $‎236.56 $‎0.00 $‎0.00 VACANCY: $‎375.00 $‎375.00 $‎0.00 UTILITIES: $‎0.00 $‎0.00 $‎0.00 GROSS EXPENSES: $‎2,380.27 $‎750.00 $‎1,018.71 SUMMARY  MONTHLY YEARLY GROSS INCOME: $‎3,750.00 $‎45,000.00 GROSS EXPENSES: $‎2,380.27 $‎28,563.24 NET OPERATING INCOME: $1,369.73 $16,436.76 OWNER OCCUPIED: $419.73 $5,036.76 ASSUMPTIONS CAPITAL EXPENDITURES: 10.000% CLOSING COSTS: 3.000% DOWN PAYMENT: 3.500% INTEREST RATE: 4.100% MAINTENANCE: 10.000% PMI RECURRING: 1.050% PROPERTY MANAGEMENT: 10.000% TAX RATE: 2.583% VACANCY: 10.000% LOAN TERM (YEARS): 30 PROPERTY INSURANCE; 0.035%

Knowingly renting out a property with recurring mold problems without any remediation attempt could lead you to a dangerous path --- especially depending on the type of mold growing. 

Quickbooks Cloud (QBO), works pretty well on rentals (see below).Big learning curve, but you can set-up auto invoicing (with recurring set-up).

Now, if you cannot stomach turnovers and the recurring HOA fees, you should relieve yourself of the stress.  

You can either have your bonded or trusted maintenance person perform them under your simple recurring systematic process or you can have an unknown perform them, manage a separate process, dedicate mindshare to the decision, and take on liability.

I have been watching all the podcasts, reviewing all the articles, and reading all the books and there seems to be a recurring theme to get an FHA loan for the 3.5% down and live in the home for a year.

@Nicholas Baughman Comparisons between markets are a recurring topic on the boards here.  

Creating a passive stream of recurring income that exceeds my monthly expenses.

From that point on, every month rent will recur on the 1st.My first question: as soon as the landlord adds the lease to my software, assuming the day is December 15th, 2016.

My goal is to become financially independent and earn a steady and recurring income stream from long-term, buying and holding of rental properties.