@Anthony Zotto - By the way you ask the question I assume you're going to self manage the property instead of using a property manager.

Thanks for reading and I look forward to posting weekly progress on here.

Quote from @Ronald Rohde: Quote from @Joseph Gozlan: We own, operate and manage industrial & Flex in Texas.

Consider starting with house hacking to reduce housing costs while learning property management, or explore mid-term and short-term rentals for steady or higher income.

You will also discover the warranties don't cover as much as you think, and claims are often denied.Home warranties are so bad that most professional property managers will not manage a property with one in place.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I will be here for 6 months to a year and looking to continue hands on support/experience.I am a construction manager and have a lot of background in contractor management, site scheduling, and quality control.

If you call about a property under management, schedule an appointment to see it. 

I’ve built a solid network of contractors, hard money lenders, conventional/DSCR lenders, and property management companies that serve as my trusted boots on the ground contacts in Memphis.

Generally - the depreciation on the structure, mortgage interest, property taxes, repairs & maintenance, insurance, property manager, utilities, vehicle expenses (mileage), professional fees (reports/CPA), home office (office supplies, percentage of utilities, continuing education).