But I guess some tenants may want to do that instead of putting a traditional large deposit down. 

I guess what I am really asking is that if there are 4 bedroom, 4 bath homes that already have what you need - why not just buy one?  

I guess it depends on if you think home prices will continue to go up over the next two years or not.  

I guess it depends on where you are buying.

Feel free to manage yourself and don’t consider thsi an argument against it, just things you may not have considered. 1) You’re going to “guess” at the market rent.  

I guess I'll just follow up real quick - I did indeed just setup another mailbox, labeled them "A" and "B", and for the last 4 years I've never head any problems.

It would be tough to make the case that you work more hours than your property manager, which is my best guess (for someone who is not a tax professional) as to what triggered the audit. 

Don't think about it, just buy it.If you are second guessing yourself and wondering if it's a good deal or not, then you haven't analyzed enough deals. 

@Jerry Zhang, Gino's suggestion is a strong one.Why guess? 

And if the yard space was part of the lease I guess it makes sense to reduce the rent a little.