market rent increases has been very small in my sub markets (I suspect near flat metro wide).Ideally the property appreciates and historically it is true.  

Ideally you would want to transfer the funds you expect to use for the purchase to your new entity for your records to create the separation from personal to business. 

You can use form 3115 to catch up with any depreciation not previously calculated.If you have a condo, it is possible that there is no land allocation.Furthermore, if there were any assessments made by the Condo Association, you want to factor those in as well.

Most ideal would be seller financing, but open to creative strategies for a cash-flowing property. 

@Vincent WeselakIt’s a good idea to get an estimate for your insurance costs upfront since this can vary based on the property type and location, and it’s a key factor in evaluating your cash flow. 

So I get that "lag" almost every time, plus I deal with our corporate bank... so they always have that lag. 

Other factors as well of course: DTI, the LTV, primary residence vs investment property, etc.

Be sure to factor in repair costs to keep things profitable.

A HELOC on your duplex or home offers flexible, low-interest financing ideal for BRRRR, with potential tax-deductible interest if used for property expenses.

When evaluating markets for rental properties, there are a lot of factors to consider: population growth, employment rates, rent to price ratio/GRM/Cap Rate, rent trends, vacancy rates, etc.