In addition to what Ned mentioned, you will also have advertising, entity maintenance, legal fees, evictions, court costs, periods of high vacancy, damage done by tenants (in excess of the security deposit), lawsuits, utilities (at least during vacancies), etc, etc, etc.

I was shocked to hear that some of these "services" charge up to 2 months of mortgage payments (between $5,000 and $7,000 in CA).I'd appreciate your opinions and experiences with these services, either as a customer or entrepreneur.

It is custom to have 3 years income/expense reports and or 3 years tax returns on the property.

A common rule of thumb is that all expenses, including taxes, insurance, utilities (at least when its vacant) vacancy, advertising, tenant screening, maintenance, property management, tenant damage, legal fees, etc., all add up to about 50% of the rent.

Fully furnished and utilities included.

NEVER FORGET WHO YOUR CUSTOMER IS!

Not to mention yard costs, utilities, maintenance during the holding period.I think you need tons of cash to remodel these days or stick to low end products.

Now of course if you want something custom built, and all that, then yes you are going to be increasing your cost, but what I like about these modular homes is that you can "customize" it to an extent.

One problem is they don't last long from wind and sun.However, I am closing on a house that is in the college rental area, but is located on a dead-end dirt road with no traffic whatsoever.So I will be ordering customized 'For Rent' signs with my web site prominently featured.

2) The article recommends utilizing multiple LLCs, one for each property.