Minimal to no monthly expenditures outside of taxes.

Ensure you have enough passive income and capital expenditure funds set aside.

Along with substantial property price increases we have seen exponential increases in insurance premiums, property taxes, repair costs, and capital expenditures.

Its a matter of what is your strategy and goal.If you really think that house free and clear will cash flow enough in 12 years (after all the income and expenditure risks) to make you financially free --- well that's your plan.I think most of us are saying its just pretty gutsy at your age. 

The deductibility of an expense/capital improvement is not dependent on entity structure - you will be able to deduct all ordinary and necessary business expenses (or capitalize and depreciate capital expenditures) against rental income even if the property is not in an LLC.

Having a reserve for unforeseen costs, vacant spaces, and maintenance expenditures is essential.Take into account the state of the local rental market both now and in the future.

If a property is a little more run down, it probably will need some expenditures up front. 

@Thad Gerber, It would be an expense and fall under "capital expenditures" for your property's P&L.

Because cap rates do not take into account capital expenditures and property condition.

With a total expenditure of nearly $2.4 million, Alden's venture purchased unpaid taxes on over 600 properties during Cook County's annual auction.https://bnnbreaking.com/finance-nav/alden-global-capital-div...