We should also include @Pyrrha Rivers.  

I'm a trust but verify guy so 3 times a year we have picture inspection reports done so I know the condition of the unit, cost $75, Will share information if requested.Best,Mike Money well spent.In think we do a yearly walkthrough that is included with our PM operation but would like to have multiple walkthrough's scheduled every year which we will probably have to charge for due to needed time and resources.But it's a great way to get eyes on the property and provide peace of mind for landlords.Thanks for the mention.

Make sure you are priced competitively for the unit without heat included.

Here are a few incentives as noted by the IRS:168(k) - Special Allowance for Certain Property (Bonus Depreciation)179 - Election to Expense Certain Depreciable Business Assets Other incentives included in the tax code, however, may reduce the need for a taxpayer to perform a cost segregation study because they give preferential treatment for certain qualifying 1250 property such as 168(e)(6) - Qualified Improvement PropertyHave you utilized either of these incentives as part of your cost segregation study?

Max LTV should be 75%LTV based on the basic factors, credit & DSCR. 

The deciding factor was talking to a neighbor who bought his house for $140k in 1994 and now it’s worth $640k.

Another benefit to doing this in a place where my family is though is that it is nice to go out there every once in a while and not have to factor in hotels/places to stay. 

Does the guideline for a monthly rent between 0.8% and 1.1% of the property's value include power, water, gas etc.?

It's done all the time and even better when you market it and include the current plans and permits (assuming you have this in place).

Yes, we have a property manager who has handled everything for us, including the repairs we have done.