To piggyback on what most of the others are saying, stay calm... a tenant being a day or two late when they have a five-day grace period is nothing compared to some of the challenges that you will face.

Whereas a kitchen, guests may barely even spend time in.

So, they have barely an inkling of how to work with an investor to find "deals".Of course, most of the newbie investors don't know what a "deal" is either, with many of them willing to pay asking, or above asking prices.

Picture the look  on your face when your Insurance Company denies the claim.

Regarding the long-term implications of using rental properties to offset your W2 income with depreciation:Depreciation Recapture and Tax PlanningDepreciation Recapture: When you sell a rental property, you'll face depreciation recapture taxes on the portion of the gain attributable to depreciation deductions taken.

Ive seen so many investors leverage themselves to the max and be barely successful.

@Sanket Patke this is a dilemma that many high cost of living area investors are facing and you ask some really thought provoking questions.Touching on appreciation. 

Since you are a queens agent, honestly speaking what challenges are you finding investors facing when renting their property in those area and what system can they put in place to reduce those challenges?

It worked fine for basics, and I even did some barely passable permit drawings on it, but it is by no means pro-quality.  

Tiny homes and ADU's generally face a lot of challenges as they are a disruptor to the RV and mobile home markets.