They can provide insights into whether locking in a new rate now could be advantageous or if other financial strategies could make holding the property more viable.Additionally, consider the overall financial picture, including your ability to cover the mortgage without the rental income covering all expenses.

Here is one I added to this list specifically resulting from this transaction:      Are there any persons or pets presently living in any of the units that are not included in the lease agreements?

They sent over inspection report.

It tells you how much interest you must include in your taxable income.

That would be called a credit report and for your purposes, there is no such list.

I also like to "borrow" ideas and look at what amenities are most popular in that area so that I can include those amenities at my property.

@Nick KnoblachOf course, you should always confirm with your own CPA who is familiar with your situation, but here's a few generalities:- CA taxes residents on worldwide income, so the CA resident will likely be taxed on the entirety of income that he/she receives on his/her CA resident tax return, including his/her share of rental income- CA will likely want to collect tax on all income earned in CA due to CA-sitused real property, so any non-residents in CA should likely be prepared to file a non-resident income tax return in CA to report his/her share of income earned from the CA real property-I'm not familiar with MN rules, but most states generally allow for a credit for taxes paid to another state. 

I am certainly afraid of the unknown, which would include those fees eating up the equity that I have built to date.

I will make sure I include it in all future literature.

It may not be a simple DTI calculation but rather including your liquidity and assets into account - which may be a little complicated.