.- To gain an understanding of the demand for your product in the area, run test ads for home rentals and lot rentals at your proforma rental rates.  

We run test ads on Craigslist and Facebook Marketplace, et al., to test the demand of the market.  

I don’t believe there is but double check on qualifying as a real estate professional with your CPA as it’s really tough to qualify with W2 income, you need to meet the following that eliminates most taxpayers with W2 incometwo quantitative tests of Sec. 469(c)(7)(B):Do the hours represent more than one-half of the total personal service hours the taxpayer performed during the year in all trades or businesses?

(This has been a legit budgeting test for me these past few months but it's fun … lol.) 

As Rachelle suggested, take your time.Test Hires:  This is moreso for vendors than PM's or realtors, but feel free to test out different vendors. 

I always thought you were pretty good and you passed my little test in short order.

. - I did a test post on Craigslist Marketplace and it did get a lot responses the one day it was up for two listings.

They are at the mercy of the lab doing the testing.

There are a few more unaccounted expenses you will surely have.Since this is a Test budget, let's rework it and see what the diff is.Andres Alexander"Handy Andy"Investment Remodeler

I would also spend time reflecting on the mistakes of the first property and consider whether extreme leverage, and correspondingly thin cash flows, was one of those mistakes.Always buy for cash flow and stress-test your deals - even on a duplex.