First you must be prepared to inforce it and second you must not show any compassion or weakness in regards to perusing your enforcement.Most landlords do not have the back bone to inforce this part of the lease and generally have a defeatist attitude toward collection results.

:does this apply even if reported net loss in my federal filing after accounting for mortgage interest, depreciation and  expenses for maintainence and when acquiring the propertyi didnt file a city of cleveland return nor state as there was no net income Yes, you still need to file.City of Cleveland taxes are collected by the CCA (one of two contractor organizations that deal with municipal tax in Ohio, and definitely the nastier of the two.)

There were times that I was bringing in funds that I had just earned/collected myself to make my payments. 

Is it a monthly invoice, or do they deduct from deposits that they collected?

Your option2 - to be clear we will still need to pay taxes on the rent we collect but can claim deduction on mortgage interest and taxes (even though we do not occupy the first home purchased)?

I actually watched that video yesterday.Here's where I stumble:What are the best ways to come up with the numbers you don't have data for yet?

It shouldn't be a relationship where I find the houses I want and just use the realtor to sign the docs and collect a check. 

First of all you don't have as much control of your expenses, and HOA's love to under-collect annually and then sock you with large one-time special assessments to do repairs.  

I use Cozy.co for both tenant screening (application, credit and background) and to collect rents...

. $1mm/$120K= 8.33 GRMThis means that at 100% Occupancy it would take you 8.3 Years to collect $1MM worth of income or another way to look at is it would take 8.3 Years for the property to pay off itself!