Any other expenses are using up funds that would otherwise be sitting in your checking account to make a mortgage payment with.

You can opt to automate rental payment collection so Turbo Tenant collects rent, and deposits it into your bank account. 

I recommend finding an accountant who specializes in planning.

Take into account your mortgage, a property management company and other expenses and you are lucky if you net $300. 

Do you see why we accountants say "likely" and "possibly" in every paragraph we write?

You are likely in a better financial position on account of that. 

From an operational standpoint you might also want to consider the cost of any extra tax returns that are needed by the entity as well as any extra accounting fees.Good Luck!

It may seem easy to jack up rent but there is something to be said about good, on-time paying tenants.As an accountant, I always rely on the numbers.

We also have a bank account at a smaller Chicago community bank, but there technology isn't as good to be honest.I think @Jonathan Greene's main point is don't step over dollars to pick up pennies. 

For seasonality, I take into account holidays and local events that might drive demand.I'd be happy to connect for more ideas!