What I didn't realize is that not only is this taxed as ordinary income (I knew that part), but it also triggers SELF-EMPLOYMENT taxes as well. 

Once you are familiar properly evaluating a deal and identifying most of the potential obstacles, it becomes fairly straightforward and your profit margins go up considerably.

I got a notice saying "Don't worry, your payments will automatically be transferred to us", however my bank didn't recognize the new servicer's info and the payment didn't go through, making us late and again dinging our credit and triggering late fees. 

It’s going to take you a considerable amount of time and effort to reach $350,000 per year.

One more tip – people remember stories that trigger their emotions.

Quote from @Jose Lacayo: Hi everyone,I’m on the fence of pulling the trigger on a build with Delta in North Port.

looking to pull the trigger soon. 

We're contemplating allowing pets, as there will be no other roommates besides us and we don't have any allergies.Questions:- Considerations for Allowing Pets: What factors should I take into account when renting to tenants with pets?

You raise an interesting point for consideration. 

In addition, modest increases that take cost of living and other indicators into consideration is a reasonable way to assure longevity among tenants.