Life is too short to let these things eat at you. 

The first time I scheduled a meeting with the owner to discuss rental remodels and when I showed up for the meeting he across the street to eat and told the secretary to tell me to wait (on the phone).

I tell people "eat at the DQ" and they do so. 

Also, remember that these suspended losses can use against any other passive income, does not have to be related to this house.I know that you wanted to know if the suspended loss would eat you gain when you sold it, but it always better to plan in such a way to take the rental loss today and offset your ordinary income that is taxed at higher rate today than wanting to suspend the loss and later eat your capital gain from sale of the house.  

Yea you may eat some coats out of pocket initially since your rent won’t offset your costs but your tenants will be paying off your loan and you will be appreciating and you can write off a monthly loss as a tax deduction at the end of the year.

I imagine the fees could eat you alive with multiple accounts, but being I am totally new at this, I'm not sure what is the best method.Thank you for your time, knowledge and advice in advance.  

Although this would eat up nearly all my savings. 

From my agricultural roots, I think of planting seeds and eating the resulting vegetables and fruits (or killing and eating the animals that eat the vegetables and fruits).

If you are eating the cost of water while having tenants then it really depends on the property (baths, efficiency, sprinkler system, etc etc).Good luck!

I am a state tax account by day who spends all her free time traveling, eating and coming up with new business ideas.