Keep detailed records of payment dates and amounts and consult a tax professional to ensure this strategy aligns with your overall tax planning. 

We took the highest month of "normal" winter usage we had records on -- people in the house, heat running at a reasonable temperature, washer/dryer running, etc.  

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

@John Friendas  it's close to the 1% rule which is good, but I would still run the financials on it. 

This is what we tell members:  These teams have a track record with us.

Prioritize your financial stability.

If you hire a PM, your financial account structure can be simpler.If you plan to continue purchasing rentals, I like some key accounts at the "management" level (income, opex, tax, owncp, reserve) and only have 1 checking account per property to prevent having 100 accounts and unnecessary complexity.

Account ClosedI recommend that have a consultation with your tax accountant and/or financial advisor on ways to reduce your taxes. 

@Hiyun Park only experienced investors can DIY everything in Class C Midwest areas like Detroit, Cleveland, St Louis, etc.Hopefully the info below will help you:-----------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

And Bruno ( the attorney was like an uncle to me) And he would always tell me the way to financial success in RE is to learn the courthouse..