As you progress, maintaining a clear line of communication with your team, especially your property manager, will allow you to stay ahead of maintenance issues and tenant needs, keeping your operations smooth and your tenants happy.If you haven't done so already, consider outlining your goals and investment criteria with a property manager early on.

By accelerating your depreciation schedules, you reduce your taxable income which in turn increases your operating cash flow.

Look for an experienced operator to partner with.

Finally, of the extra $200k, how much are you putting into operating reserves? 

Do what you say you're going to do, on the seller side and your buyer side.I've done acquisitions for a few years now and I understand how to analyze and close deals pretty good along with having a fully operational running business (from TC, dispositions, etc.) to handle new contracts and get these contracts to the closing table. 

It’s been mentioned that with Subject To transactions are utilized by “equity skimming” operators.  

How about the simple obvious that the inputs to deliver the service/product have a base-line and market prices have, OBVIOUSLY, been at about as lean of operating profit margins as can be. 

That is how I've operated for years, well before the NAR fiasco and as agents, we have always been advised from referring to status quo, standard, typical, etc when it relates to commissions.It continues to amaze me how many buyers/investors believe the agent value is finding them "deals."

"I actually think renting a place will get me started"If you are talking about being a tenant yourself and operating a airbnb in your rental apartment don't hold your breath.

I'm also concerned about the liability that I might be exposed to here by allowing what appears to be a business to operate out of my rental.