., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.

The current owner bought it for $30K and I know they had to clean up a lot of title work and started doing repairs. 

Additionally house tenants bring more of their own appliance, like refrigerator, washer and dryer; which means tenants are responsible for repair and replacement of their own appliances. 

Delays, unforeseen repairs, and underestimating budget up front are all much more dangerous occurrences once a gap lender is involved. 

Remember, in this model, you are planning on holding on to these properties as rentals so pay now in quality, or pay later in headaches and repair costs.

That creates a compelling opportunity for investors willing to get in ahead of the curve.I’ve been investing there since 2019 and have built a 12-door portfolio primarily using the BRRRR method.

It's a good practice to overestimate costs and underestimate after-repair values (ARV) to keep your expectations realistic.

., guest communication, cleaning, or repairs), and hours worked.

I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income. 

@Gene PanicciaManagement fees vary, but it's not uncommon for a PM to charge fees for managing tenant-paid utilities or coordinating repairs.