If done right, you drastically reduce your monthly housing costs and can save that money to repeat in a year and within a few years, you own a few properties.

I worried that it would reduce not only the rents but also the pool of property managers who would be willing to work there. 

Some landlords are now offering reduced rents just to fill vacancies during COVID-19.I would appreciate your thoughts on if we should politely respond the rent will be the same rate for the new lease.

@Christina PhilpsYou sold the property and it should be reported on your tax return.If the flip was unsucessful - you may have a loss which may reduce your taxable income.

Right now, I would probably use 20% or more for the next 6 months and gradually reduce it to 10-12% 12 months from now.Once you find your rents and expenses, create your own proforma P&L statement.Then add debt service line to the P&L to see if your projected cash flow is positive and meets your criteria.

I will soon take up a Medical Laboratory Scientist travel job with the intent to fund more real-estate buying and achieve my ultimate goal of not having to trade time for money. 

If they break up, they are both responsible until it is resolved with a new tenant I approve.Negotiators:  Applicants who immediately ask me to reduce rent, I drop them from consideration. 

Buy right and you'll have reduced living expenses, build equity, and gain experience as a LL.

I am in the medical field, so I am not as educated in the real estate area as you all.

Now second generational tenant lease up at reduce rent rates then when purchased and equity from down payment is mostly gone.STNL can be great properties if you buy with the right locations for the right terms.