Insurance has gone up quite a bit, property taxes and HOA fees as well.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

@Kevin Drouillard most PMCs do not pursue collections after a tenant moves out.Check the eviction judgment to see if a money judgment was included.If not, you will need to pursue small claims judgment.Once you have a money judgment you can try to garnish (another court process) wages, bank accounts or state tax refunds.

Typically, to qualify for loans when contract or self employed, you need two years of tax returns for a typical loan.

We primarily focus on vacants, preforeclosures, tax liens, and pre-probate leads.  

The basic rule for the amount of cash to have at hand is 3 months of ALL expenses as if the rental was unoccupied and you had to pay all the utilities on top of the full Primary mortgage, Interest, Taxes, and Insurance (PITI).As well, it's pays to have a bit more because life happens.Good Luck!

The no-income tax and growing city were all a plus! 

There are tax filings and yearly fees associated with them. 

I'm looking for local recommendations for an experienced real estate tax accountant/CPA.

@Dennis Hill if the house meets standards of that size family, enough beds baths and room size for children, then follow your standard rules, like I make anyone 18+ years of age qualify on their own unless they are a dependent of main tenant (prove with current tax return).