All trad (non-Roth) retirements will add to your bucket that will come to you as ordinary income and forcible so when your RMDs start. 

And I've got some automated emails set up to take care of sending check-in details and other ordinary things.  

I wouldn’t be loosing money unless it turns into some crazy lemon house with endless out of the ordinary repairs. 

They might hire property managers or third-party companies to handle all aspects of property management.Limited Time Involvement: They generally spend less than 500 hours per year in property-related activities or do not have a direct role in property management decisions.Impact on Taxation:Active Participation Benefits: Active participants may deduct up to $25,000 in real estate losses against their ordinary income, subject to income phase-outs.

The envisaged good cap rate therefore becomes rather ordinary...I have read threads on the subject.

Your interest is taxed at ordinary income.4.

You can deduct up to $25,000 in passive losses (Rentals) against your ordinary income (W-2) and other active business income if your modified adjusted gross income (MAGI) is $100,000 or less.This deduction phases out $1 for every $2 of MAGI above $100,000 until $150,000 when it is completely phased out.

Take a look at the following to determine what is a legal offset and what is ordinary wear and tear:https://www.nolo.com/legal-encyclopedia/chart-cleaning-repai...And, in most states, a landlord has 15 days to return a security deposit - or 30 days if an offset will result. 

I focus specifically on those areas for listings, sales and rentals.A data service that would provide some search criteria like {zip code, town, area}, # bedrooms, age and maybe a few other ordinary screening criteria which then produced a trended report of active comps for sale and rent, as well as sold properties would be very nice.

Your lease should make it clear that tenants are responsible for ordinary pest control.