Even good tenants can turn bad and Landlords need to be prepared to deal with those situations.

You will get offers from "joker brokers" who are trying to be middleware on pools they don't control, so be prepared to weed-out those time-wasters.Bob

Robert Kiyosaki talks best about being prepared to win and to lose.  

But there are some incredible opportunites if you check them out personally before you buy and always use your own attorney to investigate the title and prepare the purchase contact for you.

Without cash, imo, you're way out of your league and not prepared to play this game.  

If you lose the eviction lawsuit because you made a mistake in preparing or serving a three-day notice, you may even end up paying the tenant’s court costs and attorney fees (in addition to your own), and you will need to start all over again with a correct three-day notice.If you rent to roommates and no rent is paid.

My CPA has instructed me that the auto expenses (at least the proportion used for rental activities), overhead such as office supplies, software, tax preparation, and other items which occur to operate the rental properties (AS A WHOLE) are expensable on Schedule E relative to the activity (e.g. based on number of units per property) by "cost accounting or cost allocation". 

Most of them are going to be for owner occupants though which doesn't sound like a problem for you.Be prepared to pay for your mortgage though.  

Its always better to be prepared than unprepared.

Here is the link, "Death of a Tenant: Preparation", so you can read what other BPers have advised.http://www.biggerpockets.com/forums/52/topics/1079...I wish you all the best.