@Juan Antonio Villagomez If you're new to rental property taxes, your approach should balance cost, compliance, and tax savings.

This is not accurate on how it would work.

That said since you want to get a graduate degree for work, I would suggest something business related.

This means youll need to be licensed, work under a broker, and be fully operational as an agent, even if you dont close any deals. 

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.

@David Kendall Jr, for deals that I am managing myself, I want a minimum $50k profit potential, and shoot for about a 15-20% profit margin, whichever is greater.At the end of the day, percentages alone don't work for me, because my time has a value to it. 

So, I don't want to expand that tool beyond what it is today.1) If anyone out there knows of such a dashboard for a small investor (I have 5 commercial leases and 14 residential), please share the information on where I can buy a template.2) If any of you are interested in working together to develop this tool, I am happy to meet and build a wish list for features that we can divide up the work and complete it faster. 

This place has changed my life and I couldn't be happier.

MInd you, we've gotten really good at our scopes of work and we have one of our GCs go through the property with us to give us our scopes of work.

It's been 2.5 years since I purchased my first property and now that everything in my personal life has slowed down I'm back on the horse and ready to find my next investment.