Costs less to let it sit than paying a contractor 2-5k/week, I'm going to DIY some, and the location is awesome so no need to worry about break-ins/vandalism. 

Simple. 

Hi Babu,A simple rental property balance sheet will have the following accounts:Assets: Cash, tax and insurance escrow, fixed assets and depreciationLiabilities: Credit cards, security deposits, and loansEquity: Opening balance equity, owner's contributions/distributions, retained earnings and net incomeThere could be a number of reasons that your balance sheet does not balance.

It's simple.

I think it will come to me soon :) I will create a simple website for it as well.

I would start really simple....a little LTR house that needs a little lipstick, nothing more.

You simply have to watch what other investors at the scale you want to be do on a daily basis and copy them, simple as that.

Make it as simple as possible.

Hi Mike, the simple answer is that you ignore it for right now for a depreciation standpoint at least.

By way of example, the local code may require max distance from common stairs or building exits and something as simple as that can really interfere with the layouts you are contemplating in your head.