Remember...No one cares about your success except for YOU.

@Rahul Sivaswamy if you use the BP Rental Calculator, it defaults to 5% Vacancy, 10% PM, 10% Maintenance, etc.These are all pretty good estimates, except the Vacancy factor of 5%.

Anything that has an attractive price in 32206 or 32209 is either in a D class neighbhorhood and/or a property that needs significant rehab.The further you go from the center of downtown, the more likely the property is in a better class neighborhood.The exception being springfield where it is close to downtown but considered a good neighborhood.

IRS liens and a couple of other exceptions.

We would typically not do this, but talking to a very experienced property manager friend, they agreed in fact suggested we let them out, this would be the one exception... crazy and aweful situation.3. 

It is absolutely correct that that all investment has risk, and Norada is no exception.

No exceptions, even for that lovely couple who reminds you of family.

Now there can be some exceptions for expensing certain carrying costs, but without knowing specifics it's hard to say at this moment. 

I try to set the expectation for net 30 payments to my contractors with limited exceptions.

Land is not like the residential or commercial markets; creative financing is the rule rather than the exception in land deals.