You need to learn what rents are your area for different types and locations of rentals then figure the cost of buying and rehab versus building new to see what makes the most money. 

If your rental is leveraged at 70% LTV it will not look as attractive and you would only stand to lose 30k versus 100k.  

That way I can really learn and understand the root of what they mean, and it is visually nice to see as I learn.My only critique is not easily knowing what cells to input, versus what ones calculate.

You may get the couple in there and they are complete slobs and don't take care of the place, versus the other three that could be immaculate and great tenants.I do think the others are right when it comes to having to make a choice.

Look under the "Marketplace" tab above and go to the hard money lenders section to see who lends in your area and then you can shop around.They are more lenient as far as where the down payment comes from versus most banks. 

While I am certain you are going to get a plethora of answers, I will try to provide an answer that provides a more general guideline versus detailed specifics.Personally, each of my days has some amount of time devoted to the following:Education and trainingmarket research and analysisdatabase and contact managementadministrationreview and reflectionEducation and training could be as simple as taking an online course from the national Association of realtors, my brokerage or reading a book like The Compound Effect.  

If a buyer has a home inspection and wants certain items replaced (such as heater/ hot water tank) than as a the homeowner you can offer a home warranty which will save you money out of pocket versus replacing those appliances.

A simple question like when to use a handy-man versus a certified trade - unless you have some experience you will read the report from the property manager and hope they made the right decision.

It will lower your cost of holding the property till the day you sell it.If there is cost then you have to see if there is a net gain or not from monthly savings versus the upfront closing costs to close the refinance.Consider structuring the loan for a no cost refinance and then see if there is still a cost reduction advantage. 

I'm looking to open a LLC, and wish to discuss the benefits and ramifications about opening a LLC in Tennessee (where I have property) versus opening up one in California, where I live.