Think beyond year 1 and resist the urge to go for cash flow in a cheap market with little to no population growth.

Rent-by-the-room tenants are more so catered toward working-class/blue-collar or young professionals looking for cheap rent.

I know somebody will read this in 10 years and probably thinks this is now cheap.

When you replace it, you deduct this $8k.Tax professionals who know the fine details of these issues are not cheap.

These leads are not cheap full price so be very careful!

Everyone loves saving money until they realize that they were cutting corners and being cheap.

My experience is: if you have a rental that you clearly are putting in the bare minimum to get it rented: cheap carpet, quick coat of paint, cheap light fixtures, repaint cabinets, etc, in these lower income, higher crime areas two things will happen.  

Fair warning, it wont be cheap.

The result is that even though I sold the property I am showing a late payment on my credit.I was planning to DSCR an investment property and this throws a monkey wrench in things.

Sage is an outstanding product that is relatively cheap and flexible, if you have a significant portfolio.