Yes, I will follow the guidelines on the vacation rental and not exceed 14 personal days of usage. 

Although it does not cashflow my mortgage of $1,371, I was informed that it is taxed income and reported at tax time as a schedule E.

Now they are having a dispute with the couple on the 2nd floor about backyard usage. 

Lol)We also have the e-game so they can play against the computer. 

Steve, you may want to check out my BP blog and my e-book on Amazon, I specialize in low income.Get used to tenants living much differently than you do, and not taking care of things.  

They can list a large number of properties with just one assistant.The 4 other buyer brokers that lost out get to go find another property again and waste time and gas so when something does close it is a reduced return.I work with lot's of buyers on the commercial side but it is number crunching from my office, e-mails, and phone calls and not driving people all over creation like with residential.    

Cheers @Tyler E., I'm glad we figured this out!

He's the guy who did "Flip This House" on A&E.

I gave my newest tenants a quick form to fill out- names, numbers, e mail addresses and SSNs and an envelope with a stamp on it to make it really easy.When rent is due, expect confusion even if you have told them how and where to send payment.  

Account Closed  not sure about the cars.... many folks living in the hood drive Cadillacs and Mercedes.When I lived in Palo Alto those folks drove used Camry's and maybe up graded to Subaru'sAnd we know Palo Alto is no slum  ( E PA) is rougher but ... cars I don't think is a great indicator of RE values.... :)Most big money in the RE bizz is buying the in the path of progress... of course land in the path of progress has no cash flow... but once they cook off there can be some pretty huge upside.... learned that one from experience