I've done it, the market does not reward the effort and the cost.

But the way you have arranged the owner financing, and build costs, followed by refinance…this is a repeatable model for you.  

Knowing zoning laws, property taxes, and landlord-tenant laws will help you navigate potential pitfalls.To expand your knowledge, engage with real estate investing websites and forums such as Bigger Pockets.

I do not have a sheet but I typically budget $150 for lawn, $150 for pool if applicable, $100 for cable, $100 for water, $300 a month for electric (depending on property size and your local utility costs), $50 for pest control, and another $200 per month in misc. 

I don’t currently insure it as the cost was four times my home.

I'm interested in learning what others in a similar situation use for asset protection from potential lawsuits.

Costs 1500/mth, 2.99 fixed, and rents for 2500/mth.

House hacking is definitely the simplest and most cost effective way to get into the market if that works for your situation.

The properties themselves are often different, maintenance costs are different, purchase prices are different, utility costs are different, etc.

The rental above cash flows about $5,000 a month and helps offset the mortgage cost at $6300/mo.My question is: we have a lot of equity built into the rental, but the mortgage rate is so low that my calculations show shifting the debt from the primary residence loans to the rental as being a wash with the tax savings.