You also do not want to be too cheap and leave money on the table.If you do all of that you will be well on your way to being successful.  

Tenant(s) name(s) and contact information, start/end of lease, rent rate, pets, kids, etc.Create a section for tracking rent charges and payments.

The trust would also acquire the new replacement property. 3) If you are renting the property to a related party, please keep in mind that it should be at fair market rental rates.  

Plus today's rates for conventional loans are in the single digits, which are lower than hard money.

I’ve had concerns about the crime rates so I’m trying to only buy in the better sides of town.

The best approach is to set clear, written criteria, and then price the property at a rate that gets you enough applicants that you can find a few who meet your criteria reasonably quickly.

Based on 27.5 yr straight line depreciation, that's about $1,700 of missed annual depreciation; $25,000 over 15 years - and at an ordinary tax rate of say 30% tax could amount to $7,500 off my current tax bill. 

I've now used it twice.The program requires 10% down, must be a rental, no PMI, and has a very high standard of credit.Last I did it (Summer 2022), my rate landed in the low 5%.  

Is it high appreciation area with a low rate mortgage?

Interest rate: Your interest rate is XX% APR interest-only plus X points.