Just call your local pest control to come lay some traps.

NO WAY I'm trapping cash for 12 months. 

A lot of investors shop but end up coming back because they fell for the trap of nice terms, and unfortunately the lender could not deliver.

You need:a manager contract outlining duties and responsibilitiesState Employer account for workman's comp and withholding for Fed and State SSILiability insurance for the manager & E&O (Errors & Omissions) insurance also.To get out of that trap, you will need to first find a PM of your choice and make sure they will provide the on-site, live-in manager. 

Loan Info: Owner is carrying note for $285,000 and I'm putting 50K down. 15 year loan @ 4.35% -- W/Tax, ins, ect -- my payment is @ $2150/MO.The 2 BD/1BR's rent for $600 for upper and $500 for lower (although they are the exact same layouts).

Otherwise your money can be trapped a long time waiting on the banks answer.

Unfortunately, a lot of new investors fall into this trap and can be taken advantage of.

Hi All,I am experienced in Section 8 rentals.

Any tax advantages are merely a BONUS side product.The way I figure it, the OP should still be up for more tax each year than if he fell for the trap of investing into negatively cash flowing properties PURELY for the tax deductions and hope of future appreciation - but, not NEARLY as much extra tax than if he hardly leveraged his investments at all.

They asked for an exterminator, for sink drain traps to be cleaned, and for all outdoor items to be power-washed.