I know how to work the numbers but when you see that you're getting say for example $150 or $200 a month after all expenses of take-home income; do you actually just pocket that money monthly or save it for a rainy day for your rental property till the end of the year and then take the earnings for your own personal use? 

And look at it this way, what if you get laid off or hurt and can’t cover the other expenses, and now you lose the property and your hard earned money into this deal.

You are correct thing that many people who only endeavor ways to earn money and do not care how it effects other people as long as they are making money. 

I’d rather spend the time in my area of expertise (software) where I can earn more money per time spent with far less risk.I’m not trying to make a living off of real estate – it’s more to park cash in a tax-efficient vehicle and remove the temptation to spend it on luxury items (let's be honest, I'm not as frugal as many of you ;-) ).

If you divide by your down payment of $16,342, you would be earning 12.4% cash-on-cash return your investment.  

That way, all future earnings on the ROTH funds would be tax free.Dan Dietz

If you earn income in a state with income tax you have to file.

They both have advanced degrees and earn well above median salaries.

Since the earnings from these pass-throughs is classified as passive, it is taxed separately from regular investment income (portfolio income).

@Zach StanardOf course, confirm with your own CPA who has knowledge specific to your own situation, but generally....If you invest out of state in a state that has an income tax, you will usually be required to file a non-resident income tax return in that state, and taxed at that state's rates on the income earned in that state (just pertaining to your rental probably).