I have questions: was the padsplit net income worth the time management and effort?

If a tenant is regularly late on payments, there is a very high probability that they will eventually stop paying or violate the lease in other ways that cost you far more than the late fees you see as "extra income."

Its a Colorado-specific situation, I guess I should have been more specific:Portable tenant screening reports (PTSR) pursuant to HB23-1099 § 38-12-902(2.5).(2.5) "PORTABLE TENANT SCREENING REPORT" OR "SCREENINGREPORT" MEANS A CONSUMER REPORT PREPARED AT THE REQUEST ANDEXPENSE OF A PROSPECTIVE TENANT BY A CONSUMER REPORTING AGENCY,WHICH REPORT INCLUDES THE FOLLOWING INFORMATION ABOUT APROSPECTIVE TENANT AND THE DATE THROUGH WHICH THE INFORMATIONCONTAINED IN THE REPORT IS CURRENT:(a) NAME;(b) CONTACT INFORMATION;(c) VERIFICATION OF EMPLOYMENT AND INCOME;(d) LAST-KNOWN ADDRESS;(e) FOR EACH JURISDICTION INDICATED IN THE CONSUMER REPORT.....Link to the full Bill

For example, if its an income generating property (since you mentioned its an investment property) - then wouldn't they be able to use the income from the property to *atleast* be able to qualify to mortgage the remaining 25%? 

It looks like you are an experienced investor that has a good source of income, but numbers by themselves don't answer the primary considerations.Are you looking to grow income, grow appreciation or perhaps grow tax benefits? 

Just closed on a 3/2 with about 18% NET income per year.

It will amoritze loans and export your rental income and expense information to Turbotax. 

I used it the other day with help in determining if trustee fees should come from the assets of the trust or the income of the trust.

I live in Southwestern Connecticut, and am looking for places that are not only ideal for escaping the winter months but also have strong potential for rental income/future resale value of the property.

There are specific requirements though when using the rental income.