The only other assumption I would want to clarify is regarding annual expenses less than 2% of the unadjusted basis - I assume this is for maintenance and repair expenses, not the sum of all expenses (interest, taxes, 27.5 year depreciation, etc)?

Embrace the picture rail at the ceiling.My original roof, made of VT slate (this is a common New England material for roofs) could last 150-200 years total with regular maintenance.

Most homes I've looked at were built between 1910-1930, trying to estimate if these will likely all need to be gutted to be done "correctly" - meaning lower maintenance headaches for me in the future.  

Purchase Price: $425,000Down payment: $100,000Financing: Seller financed, 5% interest, 30-year amortization, 10-year balloonAnnual rental income: $64,620; increases to $68,220 after the $20/mo. increaseTotal Annual Expenses: $48,200 Electric: $600 Maintenance $1,200Sewage: $2,000Insurance: $3,500Capex Reserves: $2,100Vacancy: $2,100Mandorty debt payments: $20,940Taxes: $15,760Net income: $16,420; increases to $20,020 after lot rent increaseThank you! 

Whatever you define as success, I believe that these nine habits will help to develop a routine that can be build around your daily schedule.

I use EVOLVE to handle the bookings and a local cleaning/maintenance company that is an EVOLVE partner to handle everything during the guest's stay so I don't get those late night calls.

As someone else mentioned maybe increase your inspection interval for this property so that maintenance issue don't pile up and blind side you.

Interest on an automobile purchase (to the extent of business use of course) is included along with parking fees, tolls, and taxes as a "separate item" distinguished from the "fixed and variable costs" described in §4.02 that are not deductible when using the standard mileage rate.The theory here is that the "standard mileage rate" is the sum of "fixed and variable costs" such as depreciation or lease payments, maintenance and repairs, tires, gas, oil, insurance, license/registration fees, etc., on a per-mile basis.However, this "standard mileage rate" does not (theoretically, of course) include the "separate items" of parking fees, tolls, interest, and taxes, and so these may be deducted in addition to taking the standard mileage rate.Also, I assume your car is relatively old or inexpensive such that the standard mileage method makes sense as opposed to the actual expense method?

Tenants always have the capacity to impress us with a good deed or good maintenance or maybe just not being complainers- You thank them by renewing their lease, not giving them a rent reduction.As the CPI demonstrates- every year that we do not increase our rents we are effectively giving our tenants a rent reduction, to the point that your unit is operating at a loss.

I think it's a good idea to save for all of these things. But does this money just sit in a bank account waiting for disaster to strike? lol.  Or do you eventually save a specific about of money depending on the house...