Meanwhile, your expenses, like debt service, taxes, insurance, and maintenance, continue.Once you choose an investment city that meets all the above requirements, select a tenant segment with the right income behaviors.

Do you frequently require subcontract and vendor engagement (lawn care, snow removal, building maintenance, management company etc.) and if so, do you sign contracts and require that you are listed  as additional insured on their insurance policies? 

In addition you need to budget for maintenance/repair, capital expenses, and also to cover the vacancy/turnover the next time a tenant leaves you.

Variable expenses like vacancy, maintenance, and CapEx get more accurate with experience. 

there are so many forum posts on BP from folks who bought a random property in a 'low cost' market and got crushed by deferred maintenance or challenging tenants.i looked at a few of your other posts. 

I don't think maintenance would be a significant factor.

They prevent bedbugs from entering or escaping mattresses.Routine Inspections: Regularly check mattresses, bed frames, and furniture for signs of bedbugs (small black spots, eggs, or live bugs).Furniture Choice: Choose furniture with metal or plastic legs instead of wood, as bedbugs are less likely to infest non-porous surfaces.Bedbug Traps: Place bedbug traps under bedposts and other furniture legs to catch any potential bedbugs before they become a problem.Professional Cleaning: Schedule routine deep cleans between guest stays, and if you ever suspect bedbugs, hire a pest control professional immediately.Clear Guidelines: Educate your cleaning staff on how to spot bedbugs early, and encourage them to report any signs immediately.These steps will help you set up a smooth, well-managed STR that’s ready to generate revenue while maintaining a good relationship with your LTR tenants.

He has concerns  about the maintenance, property taxes etc,  so maybe another option would be for me  to buy it and rent it  to him. 

It's so easy to send messages to tenants, collect rent, and handle maintenance requests.

McElhannon: Wouldn't all the other 17 years of expenses (taxes, maintenance, fees, etc)  also be deducted from the price and not just depreciation?