Vacancy itself not an expense per se, but unrealised revenue.  

In SE South Dakota, I can roughly budget the same annual cost of insurance that I do for property tax (high here), which has a 20.9798 mill levy this year.

2) Should we splitour taxes equally (50/50 as per Schedule SE) or should it be proportional toour profit margins (my spouse pays taxes on $1k while I pay taxes on $200k)?

Don't mind the hurricanes here on the coast because investing just inland in SE Houston area is also popping like the others.

On the SE Side houses are selling for +200k with nice granite, Central AC, finished basement, etc.

I’ve never made a buy no buy decision based on cash flow per se or IRR.

Income from your sole proprietorship carries from Schedule C to Line 12 of Form 1040 and Schedule SE.

The issue however is they have never made clarity with how it specifically relates to rental income..which typically as it sits...is not trade or business ( that's why you don't pay SE tax on it)

How do partnerships decrease or eliminate SE tax??

But, does it really save you that much in FICA / SE taxes?