Further, sheltering income via a retirement account does not eliminate the tax, it defers the tax until the income is recognized as a distribution from the retirement account (mandatory distributions begin at age 701/2.).  

@Nicole Jacobson You have some great experience under your belt at such a young age.

I'm 23 years of age and a recent college grad looking to begin investing in real estate.

I won't share it it (anti-trust concerns) but I'll be happy to make a proposal for anyone doing SFR in one of our cities nationwide.

I noted the age of the roof and 5 years after COE, we replaced it. 

What people didn't see is from age 22 till 30 years old Gary worked 7 days a week 15 hours a day. 

Here is a blog where I wrote about a recent 42 unit we bought and did creative things to add value. https://www.biggerpockets.com/renewsblog/bought-multi-million-dollar-apartment-complex-age-26/Just a few ways to produce ancillary income:- Laundry Coin laundryDetergent/laundry essentials in a vending machine in the common area laundry rooms.Rent individual W/D to each unit-Parking Garage parkingCovered parkingprime spot parkingJust plain old charge for parking-Renovations Interior units upgradesCommon area renovationExterior upgrades for curb appeal-Vending machines In common areas such as exercise room, pool house, laundry or leasing office-Trash pick up service In high-end buildings they have a service where you can set trash outside your door and for a fee maintenance will go around each night and collect it so the resident doesn't have to carry it to the dumpster.

I have a soft spot in my heart for the aging and our veterans.  

For each day you advertise but are not registered with the city you pay something like $200 per day.The reading I've done around removing RSO tenants is that it can be done under a few limited circumstances and there is a corresponding fee to be paid that depends on age, family size??

I am using the following numbers:Vacancies - low in my area so I'm using 8%Repairs  - 5% of rental incomeCapital Expenditures - 5% of rental income + 1% for every decade over 20 yrs property age (i.e. 7% for a 40 year old house)Management - 12%  (expecting 10% + 1 mo per new tenant)So this adds up to at least 30% of my income.