Hello everyone. I’m wondering what all I need to provide my tenants with this year as far as taxes are concerned. I bought the property in June, have had 4 renters the first month and then 3 the remaining of the year....

Questions they will have is who is the owner, what experience do they have, is their key person insurance against them etc. 

Do you think it's common for a tenant to sue for an amount greater than insurance can cover, then take your property or even your personal assets? 

By utilizing section 8 income we will turn it into a property that is insured beyond belief and make over $ 418,000 gross $320,268 net.

I would get the insurance in my trust name.

Any impending Insurance coverage or increases?

. - cash flow is difficult now with long term rentals even if you pick markets that have lower purchase prices than Boston.

I agree that pricing a rental too high is a classic mistake than can make it sit, but don't you think encouraging landlords to rent quick will make them compromise on the vetting of the tenants?

Let's assume your expenses (mortgage, taxes, insurance, maintenance, vacancy, etc.) comes to a clean $600 and the property rents for $1,000.

Plus with no state income tax, cheap insurance, and very low property taxes, I’m probably starting $20k ahead of most people, and that’s a tax free $20k.).