Extra expenses will be sure to come up; I just want to be sure i'm in a good spot before they do so I can handle them! 

If you HAVE more than 25% to play with (on top of the necessary extra reserves you need anyway), use it towards ANOTHER deal!

It does cost $50 extra for my inspector to perform.

But i would just rent it out instead and the actual person that moved in would pay the mortgage and some extra so i could make a profit. 

As most buy and hold investor you want to maximize the cash-flow from a property and you can still pay extra to the principle of the loan after you have a good cash reserve for repairs.

Now again, of course, if they are doing "extra" things in the monthly management that you find you want to be rewarding of then you accept their terms of that %.

For a small operator, the LLC requirements definitely take extra time/money and I see myself getting little benefit. 

This will only cost your time and a few extra dollars for gas.  

http://www.cmarealtors.org/prelicense-class.htmlHere's the course outline for the exam http://www.mass.gov/ocabr/licensee/dpl-boards/re/c...The class will get you ready to pass the exam for the most part but if you are looking for extra learning/practice exams I always recommend the license professor.

Are you making extra principal payments each mo th?