You should also ask if they do cost segregation analyses, as that might be extremely helpful in reducing your income tax liability.You could pay a CPA to prepare your tax return for this first year and learn as much as possible from them.

This takes a little more work, but it's the fairest and reduces the likelihood of tenants that squander utilities.If you choose #2 or #3, there are considerations:Start with an average.

Yes, I feel that directly owned single-family rentals are really a business and not a passive investment.There are a lot of things that can be done to automate it like taking rent over the Internet, using Zillow and other apps to bring in new potential renters, etcBut others require manual labor.

This is because lenders see cash-out loans as higher risk, especially with investment properties, so they limit the LTV to reduce exposure. 

Going to have to reduce to cut down on vacancy. 

Plus, replacement parts are easy to source if needed.CB2/West Elm (Sales Section): Higher-end, but you can score deals on durable, modern furniture during sales.Local Furniture Stores or Liquidators: Sometimes you can find high-quality, durable items at reduced prices, especially in stores that cater to hotels or corporate rentals.Second-Hand/Consignment Stores: Gently used pieces, particularly mid-century modern, can be very durable and unique.I do NOT recommend Wayfair as I ordered from them and the furniture came back damaged and low quality.

They follow a straightforward process that has proven successful throughout history: increase earnings, reduce expenses, save as much as you can, invest as much as you can, and wait patiently. 

Most leases you can purchase are generic in nature and do not equip you with very helpful tools to manage your property in the most effective and efficient manner, lowering costs, reducing liabilities, creating revenue centers, etc. 

that's your choice but you're reducing the pool of applicants significantly.

So yes, you need to set aside enough money to pay future taxes.Taxes are calculated only on your net profit - i.e. after everything is deducted, including labor & materials, holding costs, financing costs and business overhead such as marketing and driving.