I love the idea of being able to provide a nice home that lower-income renters can be truly proud of, and as a result (hopefully) will take care of the place.

a) You will need to file a nonresident Arizona income tax return that reflects the income you earn from your Arizona rental.b) You will not owe TPT and don't need to set up an account to deposit it.

I need to get the prop into an LLC as soon as possible and set up my RentRedi account/banking. 

We use a cloud based program(rentecdirect.com) that automates many tasks including collecting rent, screening tenants , broadcasting our vacancy listings, accounting, etc).  

From what I've read, it would be a maximum of 25%, which still would be better than income tax. 

Do you prefer your tenant shut down his business and stop paying you rent because they have no income?

How would I set up business bank accounts?

When you start to get to $700/mo you might see more people with less stable employment and part time employment since that’s $2100/mo in income.

After analyzing over 1,300 active single family homes in Reno, Nevada we found that the majority of homes cash flow around a 4% cap rate, with outliers in the 5s and even some at 6%.A cap rate is a measure of a property's investment potential, calculated by dividing the property's net operating income (NOI) by its purchase price.

I have heard many things about credit stacking to create income and also to have access to capital quickly for deals.