If you skimp on the first two steps, it won't happen. 

@Ramona HuotComing from a college student who rented an older house with 10 others... don’t skimp on the toilet.

Don't try to skimp, the service you get will reflect that. 8%-10% is the going rate for good places.3.

The difference is, an attorney is going to advise you on all the things that have to be done after set up to make sure the entity will protect you as it is supposed to.In my opinion, there are places to skimp on budget, but the professionals that make up your team are not one of them.  

No skimping there.2.

I think that one big reason that you see lower expenses on small properties is that the owners of small properties have a greater tendency to self-manage and to skimp on maintenance.

.- Don’t skimp on plumbing fixtures.

Don't skimp though, get a good one.  

I was told not to skimp when it came to an architect because his/her finished product would make it easier to sell to investor, and while that made sense to me, of the 3 or 4 firms that I called only one returned my call and made an appointment. its possible that I didn't push enough to get a sit down, though I kind of feel that if they didn't bother to return a call, they wouldn't have paid as much attention to my project as would like.

Don't skimp by using the $8 porch light if you can find a nice-looking one for $35.Ps - if you can chose flooring that makes the house kid and pet-proof you can often get a better caliber tenant (many landlords won't accept animals, while many higher income renters aren't willing to give up their pets).