We are building a place with HELOCs then after it is built we will finance it and pay off our HELOC, at least thats our plan. 

We pay the mortgage not the tenants!

.- 95% of folks in pre or post NOD want to stay in their house, keep their house inspite of them 100% will loose the house at the auction. 

A miscalculation can eat up your profits fast.Speed is Key – The longer you hold the property, the more you pay in interest, taxes, and utilities.

Went on to purchase additional rentals so tenants can pay down the loan and I build equity How did you find this deal and how did you negotiate it?

But once you pay attention, you can't not see it again. 

Hi folks - I am in the market for a Property Manager in the Rochester area for a 12 unit property.

Unless you have a Roth, you can easily pay much more in taxes by investing in real estate through an SDIRA.

:)As for LTR rental terms, usually we sign a 1 year lease where tenants are expected to pay Electric and Gas if applicable, while the owner typically pays water/sewer/trash with the city. 

You will report worldwide income on your federal and Kansas tax returns.You will also include the MO activity on your KS return.Your MO return will only include the acitivity within that state, which in this case, is the rental property.In the future, if you have income in MO(either through the sale of the property or through rental income), you will pay tax to MO but KS will give you a credit for any taxes you pay to MO.best of luck