So, you still need to be careful:)

Pro tip--make sure your exhaust fan in the bathroom is vented to the atmosphere--meaning out to the outside.....go out the roof or out the side of the unit or secured to an opening in a soffit vent grille off the house. 

One tip is too is reaching out to some people in your market place that are doing flips and see if they can send you their spreadsheet they are using.

@Tomas FalconWelcome to the community and be ready for a huge amount of information at your finger tips.

- Go look carefully at the numbers and you'll see this.If you could acquire more rentals and they threw off $500 profit each/monthly, how many would you need to make a living?

Sheriffs department took care of.  

Honestly I never know precisely, as I'm constantly buying and selling, and frankly I neither know or care.

So most agents are only putting about half of that $12k in their pocket, and out of that $6k they have to cover all of their operating expenses: licensing fees, MLS/ Realtor Association fees, continuing education classes to stay compliant with licensing requirements, monthly "desk" fees/ technology fees to their brokerage, health insurance for themselves and their family, errors and omissions insurance (required), marketing, car, car insurance, gas, clothes, computer/ software, cell phone, closing gifts, signs, photography, staging if they offer that, etc.

For residential multifamily properties (1 - 4 units), can you use a home warranty to take care of the repair costs associated with rentals?

Here's where I'd poke a hole though: providing care.