The Columbus market is known for it's strong appreciation factor, low taxes, and also because it is a land-lord friendly state.

This post is for the STR investors who are looking to take advantage of the STR tax loophole which allows you to write off paper losses against your active income.

I am thinking something like $5K, but I really have no clue what a typical fee would be.

If the units are more updated rents of $1400-$1600+ are very obtainable.Here's the breakdown of the rents I have at my two duplexes in NW Berwyn:Property #1 - 2 bed/1 bath unit rented for $1415 ($100/mo for two garage parking spaces included plus a monthly pet fee); 3 bed/1 bath unit for $1530 (bedrooms all on the smaller side).

Fees can’t be too high.

Screen people based on income / credit and you will get good tenants.As far as a discount to pay on time, it is more customary to charge a late fee if they don't pay on time.

Hi Nicholas,When thinking about taxes and deductions for your real estate business, according to the last IRS info I saw, you cannot deduct improvements or upgrades.  

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

Calculate monthly cash flow by calculating mortgage payments, property taxes, insurance, maintenance, and rental income.

I want to purchase out of state for a number of reasons (Landlord/tenant laws, tax purposes, purchase price, cash flow, etc...)