There is a cost component.

How much does it cost?

Since it's 2024 and costs have gone up, I would increase those numbers to maybe $40 (small dog/cat) and $50 (larger dog). 

For this cost, $350 for the plus, I am extremely disappointed.

The reason those locks charge monthly is because there's an ongoing upkeep cost to maintain the software and communications network that are essential to being able to program the lock remotely.  

You will receive most if not all your benefit in year 1.Year 1 is where you will spend money furnishing the house and potentially taking bonus depreciation via cost segregation study.Year 2 and onwards, assuming you got a performing asset is where things will reverse tax wise and you will likely be reporting positive taxable income.

I get to work with a lot of heavy equipment and power tools in my current job. 

She is currently locked into a lease, but she will be $900 short on rent this month and she says it is getting harder to pay every month.The rising cost of pretty much everything is straining budgets, especially of your working tenants.I see "it is getting harder to pay every month" becoming more common. 

Cons are the cost involved in (both time and money) and loosing out on having a professional to guide you through the process. 

IRR 10.78% and equity multiple 1.46xI would like to learn more about what due diligence I should be doing, what questions to ask, and anything I would need in place to transact (attorney, costs associated etc.)