It will be reported as rental income.You will also be entitled to take ordinary and necessary deductions used to upkeep the rental business which includes items like repairs, utilities, mortgage interest, real estate taxes, depreciation etc.

I have a security deposit to cover this but wanted to check to see if anyone knows an efficient and fair contractor to hire for a crank window repair services.

4 - If the answer to #3 is yes, during that 20 year period, what extra costs are added to the total based on repairs, etc...that also must be caught up before you break eve...and start to actually make money?

Make sure that if you do find a property that it will cashflow with vacancy rates, maintance repairs, and potentail management fees included. 

There should be a budget for repairs.

Some are nice and need little work and some are beat to death and would need major repair work. 

Do you need to finance the repairs or can you pay out of pocket.

Plus, the condition should match, if the house is going to require significant repairs it's probably more efficient to save for those and pay them off vs dump it all into the note.

I am in search of a Realtor in the area that has experience estimating repair/rehab costs, since I have 0 experience with this...I'm generally looking in the 145-180k for ARV , and 1.4k - 1.6k for rents. 

I have a SFH that my tenant just moved out of and in need of some repairs.