This will be our first tax year.That will work, 2019’s with partialInfo reporting in 2018 assuming  the accountant listed it accurately in terms of how many days in service will be sufficient.

This means that your rent collections will be sufficient to pay your entire mortgage payment and allow you to live mortgage free, unless and until the renters don't pay or there is vacancy. 

I am still employed after all (and I have sufficient funds to continue my mortgage payments).

Just make sure they have sufficient reserves and no planned special assessments.

You also need an egress window or door of sufficient size, a smoke detector and a carbon monoxide detector (if you have gas heat/appliances).

Once one side was done, it was pretty self-sufficient and time wasn't as big of a deal (although we were still pushing to meet our own deadlines) .

.· Quantity - More is better.

One of the most important factors to being a successful REI is having sufficient reserves in place and managing those reserves as your number of properties grow.

But no amount of reserves is sufficient to offset a huge number of tenants in default.

We hope if you are not sufficiently planned for the reserves, this is truly a hardship situation and you can request your banker to suspend the payments until things get better on COVID-19.