The tenant does what tenant's do, and your make ready for the next tenant wipes out your yearly cash flow. 

Treat it as your business and baby.

Plus, I'd prefer to take baby steps before investing out of state where I could better afford a 25% down-payment.

So there's a few ways you can get wiped out if things go south.  

Having the property on your tax returns will help to wipe the mortgage expense with proposed rental income, making it easier to qualify for your next primary residence purchase.

Property taxes creep up, exterior repairs , and a brand new HVAC last year wiped out $11k of reserves.

Once had a tenant that let her baby go without diapers for maybe 6 months.

our first baby is officially on the market and i have mix emotions but more happy because im excited for the next chapter !

My biggest fear in Frisco is that someone decides to wipe out H1B visas or you get a sweep like around year 2000 where they fire all the people in mid level management and Frisco gets wiped out

So we shall elucidate five myths and truths about investing in them.Myth 1: Distressed Properties Are Always Money PitsMost people think that distressed properties require major renovations, which wipe out profit returns.