Additionally, they would have to be property management friendly, as well as be able to provide access to the services (and the associated record-keeping) you need (i.e., trusts, ect.).

Seller further warrants that should the property be located in a Homeowners Association or Condominium Association that all past due assessments and or special assessments shall be brought current and evidenced via a Paid in Full Assessment Letter prior to closing.

And I hope to reciprocate my learnings with the next new guy/gal to join the community.I, along a with business associate, are in the process of establishing a real estate entity here in the Washington DC metro area (which includes DC, Maryland, & Virginia).

However, if your water/sewer/garbage is not individually metered, an associated cost can be increased based on increased unit usage.

@Nina Gibilaro Have you connected with several local REIA club and landlord association meetings?

I don't do property management and only transact all over the United States.If they are buying in Canada either associate with a commercial firm so you can get trained up or partner with a local person there with experience who can help.

I was also with Haynes Whaley Associates for about 5 years here in Austin.

If you average $10k per investor you will be putting in more than one investor into any asset of 'normal' size and if we approach median property values and the associated loans, you will have many.  

Does the monthly rent cover your current expenses associated with the property?

Both the debt and and associated expenses concerning that debt will be deducted from your (hopeful) profits and the net will be taxed based, at least in part, on the length of time that you owned the property.