., AC units stolen, pipes and wiring ripped out, window broken, door kicked in), significantly more challenging tenants, and neighbors whose actions reduce your property value (e.g., building code violations, drug activity, squatters, loud music, loitering, littering).

With Memphis Invest, I am relying on their expertise to reduce that risk, and accept the lower RTV based on what I've heard from other folks' experience with them.Thanks for that alternate method of pulling up name... for some reason, I can't pull in your name with a direct @ reference.

I would think just regardless whether I reduce the term (like change from annual to month-to-month) or increasing the term wouldn't really matter.Do you any of you have a better answer on this, whether it is legally acceptable to have the tenant sign a new lease as soon as I purchase the property, assuming they are willing to do so, and can I reduce the term (month-to-month), again if they are willing to do so?

Track all of your expenses and income listed in a report and review them regularly with 3rd parties to help reduce expenses and increase your income.  

Your networking in Phoenix is the smart to do with people you trust and will help you to reduce your traveling.Do not trust anybody unless you know them well.  

I need to be proactive so as to not lose money due to vacancy for what may be 2-3 days work.

It will allow you to go up a little on price since you could do house hacking to help with the mortgage and have marginally reduced competition.

@Robin CornacchioSince the income the IRA receives from the property is not taxed, there is nothing for tax deductions to reduce.  

I read these two blogs: http://www.mrmoneymustache.com/MMM Focus more on the savings and frugality spectrum (or reducing your expenses) http://www.financialsamurai.com/Financial Samurai deals more with ways to grow your wealth through means other than W-2 income ( or increasing your assets).

, or reduce expenses (paying staff / contractors too much for shoddy work?