Instead of being able to rent for $900 I will only be able to get $500 plus the increase in the usage of electricity which I will have to bill separately as adding a separate meter would be more expensive than I’m looking to spend at this point.

I could have avoided a lot of very expensive mistakes.

You have expenses such MLS dues, NAR dues, Insurance, additional Broker fees, etc.

JD I used to have that line of thinking but parcels can and do get landlocked quite often thats why title insurance is so critical when buying land and insuring your access.. suits for prescriptive right a ways are expensive and time consuming..

I’ve also been reinvesting capital to help reduce my overall expenses by replacing existing oil furnaces in 3 buildings where I pay for the oil to individual propane heaters that the tenants will pay for their own heat going forward with.

just curious - if this is 'class D', won't you have more expenses than just PITI?  

But remember, there are more costs like closing fees (2-5% of the property price), money for renovations (depends on the property's condition), and holding costs (covering a couple of months' expenses during renovations and finding tenants).

Rental property owners, did you know you can deduct expenses like mortgage interest, property tax, operating expenses, depreciation, and repairs?

Property managers can also be expensive.

I think this technology will continue to improve over time giving more battery power and additional capabilities.Even the less expensive brands have worked well in our communities, I guess we will see how they compare over the next few years.