Raising reserves makes sure they are present day one, but also dilutes overall returns. 

On paper, that's a 88% return before depreciation (can't depreciate land, but you can do a cost seg on the septic and other improvements), appreciation, etc. 

I would do you due diligence but I have seen others use it to purchase non -owner occupied properties.

County or non-public utility properties are possible to license but can take 90-180 days. 

My name is Renata Johnson and I'm returning to BiggerPockets to learn all about BRRRR method, along with other forms of Real Estate.

Personally, I advocate for a long-term investment strategy and would recommend investing the funds, provided you are comfortable with the expected return on investment over time.

You have to complete Schedule E if you have rentals.You should check if the turbo tax premier version allows the filing of Schedule E.With that said, using a software like Turbo Tax will assume you to understand what is deductible.If you work with a tax professional, you are more likely to have an accurate return.

I usually look for 10% return if not more. 

The PM had a plumber go to the house, incurring an after-hours emergency fee, but was unable to assess the exact cause of the issue at night, stating it's either a frozen pipe or pump issue and they need to return during the daytime to fully address.

Deductions like mortgage interest, property taxes, insurance, repairs, and depreciation will help offset taxable rental income.This post does not create a CPA-Client relationship.