Basically you have a job at less than optimal wage using your plan.  

What if they have collections or judgments?

First, the potential for tax write-offs makes it an attractive financial strategy, allowing me to optimize my tax obligations while building equity.

If Borrower fails to pay these sums prior to, or upon, the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower and will be entitled to collect all expenses incurred in pursuing such remedies, including, but not limited to: (a) reasonable attorneys’ fees and costs; (b) property inspection and valuation fees; and (c) other fees incurred to protect Lender’s Interest in the Property and/or rights under this Security Instrument

We have 15 rentals and have been using Buildium for 8 years for tenant communications, collecting rent, and leasing.

People are here for the lake and bike trail.When you are in a less than optimal area, then upgrading the interior makes a bit more sense.

Or you can also include the taxes in the overall rental rate and indicate in the agreement that the total includes applicable taxes.If you’re managing the property yourself, you'll need to collect these taxes from your tenants and remit them to the state and county.

A neighbor 2 doors down also cited had added a staircase between his first-floor apartment to the basement apartment legalized and with the crazy rents in the area, collected rents now legally for both.

I would love to offer as much feedback as possible and help you all optimize.

There will be things that come up that will need immediate attention like maintenance and rent collections.