Erik Hopperstad I love the idea and played around with it on a few units here in Orlando, but some people are just not astute enough with those locks, wifi/Bluetooth- cell phones.

Everyone was good.Maybe I am really cheap .... but when we vacationed last summer for one week we left our trusted handyman with the keys (in the event of lock outs) and the LLC cellphone, and our contact information.  

Which ever is greater, that's what you go with.I haven't run the numbers, or seen all the information, but I doubt it would be worth your time.

Then decide whichever investment route makes sense to you.

You need to be set up as a landlord with whichever Housing Authority is providing the tenant's benefits.

I keep a monthly cost of living spreadsheet that list all of our personal living expenses like the Mtg on my home, car payment cell phones, food cost utilities and blah blah blah.My goal is to have over 100% of this cost paid for by our rentals.We own 4 rentals that currently cover 24.9% of our cost of living.I have a secured loan from awhile ago that is costing me $370/month or about 9.6% of our monthly COL.

I would imagine you are going to use a local PM in which event you may want them involved in parts this process.

If they are both gone, I would inspect the apartment, clean/repair, and then charge them for rent until the place has new tenants or the deposit is depleted, whichever is first.

@Steven Picker thank you sir Is that 5% part of the 2500 down payment as in which ever is higher or are they combined?

Banks use either the purchase price or the appraised value, whichever of the two is LOWER, to determine LTV.