You get a Capitalization Rate (CAP Rate), which equals your annualized return by dividing the Net Operating Income (you had gross in your narrative) by the purchase price.

If you have your mom live there without any rental income, it is not considered held for investment but is rather held as a second home and does not qualify for 1031 Exchange treatment. 

So, I'm interested in the Kissimmee Florida area for a potential retirement home.

If you spend time learning how to manage well, your income will increase, you'll save time, and you'll maintain your sanity with the courage to expand.

So lets say you own a home with $100k in equity but have zero income.

Quote from @Daniel Huang: Hi, I am trying to transition to develop my rental income as I am in the final years of my professional career.  

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I am in the process of accepting a 2 month lease month to month for a retired service member and wanted to just document his service animal as being on the property. 

By utilizing section 8 income we will turn it into a property that is insured beyond belief and make over $ 418,000 gross $320,268 net.

If your new LLC is a disregarded entity (single-member or owned solely by you and your spouse in a community property state), it won’t trigger a taxable event, and you’ll continue reporting income on your personal return.