It’s good to know your thoughts looking back on your personal experience.  20% sounds good if the lender doesn’t charge more for that. 

As your new Landlord, it is my high honor and distinct privilege to provide you exceptional management, prompt maintenance, sound hospitality, and a quality environment to call home!

The Midwest was mentioned in this post and it sounds like the OP is in a similar situation as I was. 

Use a Promissory Note and Mortgage or Deed of TrustIf you’re familiar with traditional mortgages, this model will sound familiar.

What makes this one interesting is that $ 367k of this relates to work on 8600 Belle Meade Dr, a property that BlackTip owned, then transferred into another LLC after the suit was filed into Jeff's personal name.  

It sounds like you were flying blind and still are.

While insurance premiums are increasing, doubling sounds off to me.

I have two local contacts for you Bell-Harding (HBI) is a local high level CPA specializing in Foreign investors and these scenarios.Another would be Daniel Boyd a local cost-seg specialist 407-451-8996Best of luck

Sounds good right? 

It sounds like you’re aiming to offset your W-2 income with potential real estate losses, which can be tricky if you don’t qualify as a Real Estate Professional.To qualify as a Real Estate Professional, you or your spouse need to spend more than 50% of your working hours and at least 750 hours annually on real estate activities.