I think you'll have a hard time buying properties in Phoenix using the rules of thumb most people tout here, especially a straight 50% expense ratio across the board without individualizing it like Wes mentioned

  :)  Tax-ignorant clowns like Grant Cardone (who amazingly holds an accounting degree) love to "teach" bogus "tax-saving loopholes" - like put a business sticker on your car to make it deductible.You car is only deductible if it is actually used for a legitimate business, as @Lance Lvovsky explained. 

Anyway, I personally don't provide anything for air-conditioning but in winter, I have purchased few portable heaters.I also have developed very good relationship with individual HVAC contractors who take care of me any time of the day or night.

Private loans from individuals

I know people who teach the stuff but can't tell you about them here without breaking BP rules.

More than one well-meaning person with good intentions, in fact, without even hurting anyone, has gone away for an inadvertent Ponzi scheme.Do an internet search on "raising private money" to find people who teach that stuff.

The Cash on Cash ROI and the Monthly Net Cash Flow iswhat Brandon teaches he goes for on a deal (12%/ $100+/mth).

I do agree with you, anything an inexperienced individual like myself can find on Zillow is probably still on market for a reason.

I am trying to purchase a property that has 7 units, one of which is a 4BR, with 4 individual leases.That is fine for now, but my property management says that they will not place a  new tenant in that unit because of liability.So my question is what are my options on this when one of those tenants moves out?

I live in northern Canada (so I understand there are legal differences from our neighbours to the south) and would like to start a real estate investing corporation with a few coworkers.We would be a group of about 5-7 individuals investing in Canada with options to spread into the States if things go well.What I would like advice on is what kind of verbiage to include in our contractual agreement (bylaws, unanimous shareholder agreement, etc.).