I did not see taxes taken out for profits.

In Michigan, the ultimate garnishment is state tax refunds (federal cannot be garnished).Not seeing how you are going to successfully do this on your own - remotely:(

Of course, I had to make additional assumptions about the cost of property taxes, insurance etc. 

I personally have found an abundance of deals where older landlords no longer wish to own but do not want to pay the capital gains tax. 

David,Yes, investing out of state can be a wise choice especially if you live in a State like CA, NY, NJ, CT where home prices are over priced and taxes are brutally high.

The Sewer Charge and Water Supply Tax may be higher now.Check if you’re now subject to automatic annual rate hikes based on CPI, which could contribute to the increase.4.

Agreed - plus two additional thoughts:1) I always recommend having your CPA also review the drafted operating agreement for the tax issues. 

Personal Financial Statement Borrower’s Schedule of Real Estate – or- Resume illustrating experience2-3yrs Personal & Property Tax Returns – All schedulesPrevious Year and YTD Property Profit & Loss statement w/ detailed expensesRent Roll w/ detailed lease informationCopies of all Leases3mo.

For those of you who are starting out and want to learn more about real estate depreciation and cost segregation! Cost segregation can be a complicated topic, but I tried to make it simple and easy to understand!
Her...

Cash flowing markets, low taxes, landlord friendly and large demand in renters.