@Anthony Zotto - By the way you ask the question I assume you're going to self manage the property instead of using a property manager.

Generally - the depreciation on the structure, mortgage interest, property taxes, repairs & maintenance, insurance, property manager, utilities, vehicle expenses (mileage), professional fees (reports/CPA), home office (office supplies, percentage of utilities, continuing education).

If you call about a property under management, schedule an appointment to see it. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Hire a property management company who will manage it for you.

With myself as an operator I would offer the following: underwriting the deals, a detailed scope of work, a detailed material list, the labor, and the management.  

Quote from @Ronald Rohde: Quote from @Joseph Gozlan: We own, operate and manage industrial & Flex in Texas.

The first thing here would be the regulations and laws governing acquiring properties, managing properties and selling properties.

You will also discover the warranties don't cover as much as you think, and claims are often denied.Home warranties are so bad that most professional property managers will not manage a property with one in place.

All are being used as LTR and managed by local PM.