And make sure to account for the following expenses:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance   a) Property Hazard Insurance (0.3-0.45%)   b) Flood Insurance   c) Earthquake Insurance   d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy)   a) Water § Sewer § Garbage   b) Electricity   c) Natural Gas   d) Propane9) General Maintenance (usually 5%)   a) Upkeep § Landscaping   b) Snow removal   c) Repairs   d) New Appliances   e) Make ready10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...  

My other unit has a washer with the mechanical controls so it'll be interesting to see which one lasts longer.

My background is in mechanical engineering and am currently an Engineering Manager in the medical device industry.

Some improvements can be less obvious like mechanicals, electrical and plumbing.

I would have never thought about getting into buying a car wash, but what attracts me to this situation is that he really knows the ins and outs of mechanically making sure these things run well, and he also can walk in and tell immediately whether the equipment is in good shape/ has been maintainted.

A typical home warranty covers major mechanicals like HVAC, hot water tank and all minor repairs including plumbing (but excluding your main plumbing line).

@Derek Lenz sorry to burst your bubble but there really aren't any, an individual can take advantages of the same mechanisms that an S Corp or an LLC can.

I have very much a trade background, mechanically inclined, average worker fitness and willing to use some sweat equity before my body gets too old.I’m understanding of the fact that no amount of “job security” is actually valid and you have to carve your own way.

So I go toTurn in my permit application and the lady tells me I must use an electrical and a mechanical(HVAC) contractor to install all of the electrical and HVAC.

Just say the books suck or there's some mechanical issues.