@Rich CavanaghHi Rich,I think because a lot of people don't really do a projection of Rents and Expenses, they don't really know that if your Expenses INCREASE MORE than your RENT, you can still wind up Increasing your Cash Flow.Look at this example spreadsheet as an example:The Gross Rent is only increasing by 3% annually for 10 years.The Expenses are increasing by 5% per year for 10 years.BUT, because the Gross Rents are so much higher than the Expenses, about 5 times higher, a small increase in Gross Rents is larger than a "Larger Increase in Expenses."

I'd turn that 100K into $7-8K of income to me annually and never pay the tax.I'll reach out privately if you'd like to discuss more in depth.

Potentially your parents could charge interest but forgive it each year using their annual gift tax exclusion. 

I did read that there is an annual door fee to pay in some areas, although not sure how to find about that fee when considering a property either. 

If you are happy with an annual lease, that should be a pretty safe bet in most places, but if you're talking about short-term rentals, make sure you're somewhere between Kissimmee and Davenport in a neighborhood that permits it.

The HUD data is easy to find on their FY2018 Fair Market Rents Documentation System and the North Carolina Department of Commerce annual ranking is here: https://www.nccommerce.com/research-publications/incentive-reports/county-tier-designationsI had an interesting PM with @Adam Schneider  about the local (Raleigh) market where we both have investments.

.- With these subjects in mind (tenant screening/advertising), how much should I set aside in annual cost?

If I were to do an in-depth evaluation, my expenses would be 10% for maintenance ($85), 10% for CapEx ($85), 8% vacancy ($68), $600 annual insurance ($50 monthly), $1250 taxes ($104 monthly).

Take for instance I deal I'm running right now - Duplex (we'll occupy for the first year, but running numbers for when we move out)Purchase price: $190kTotal Rental Income: $1750/mo10% down: $19kClosing costs: $6kTaxes: $357.08/mo ($4,285 annually (6%)Vacancy/Repairs/Management: $350/mo (25%)Monthly Cash Flow: -$53It's sort of disheartening.

It is unequivocally the best-positioned currently and the compound annual return of bitcoin over the last five years has been more than 160%.