Check out the BP's Real Estate Events & Happenings area as there's an event this week which will be covering the topic in Tampa, for Tampa region.

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Would your rental income cover all of that, and if not would you have reserves on hand to handle that?

If it costs $500 to fill the oil tank and the tenant leaves it empty, that's $500 less you have to cover unpaid rent, cleaning, and repairs.

With $19K invested and a $71K purchase price, your cash-on-cash return should be strong if the rental income covers expenses and leaves room for profit.

They find housing on own that can be covered by insurance if home uninhabitable and it is due to covered loss. 

For further learning, here are some solid bookkeeping books that can enhance your knowledge:"The Book on Managing Rental Properties" by Brandon Turner – This book covers not just the property management aspect but also has sections on bookkeeping and managing finances."

They might not even cover it if they know it is a rental.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I'm interested in everyone's opinions on using a HELOC to purchase turn-key rentals for the short term and covering principal paydown across all new mortgages / loans ( HELOC ) through excess income.