Its really no different from rehabbers using hard money loans, the interest rates are higher, I 've paid as high as 18% but its just another expense.

It's a bit overwhelming to actually find out that, I have stepped into and arena where I have absolutely no experience in.

Should I starting pay our rental property mortgages and expenses from new Business checking account?

The problem with most software such as QB, there is no easy way to report the income/expenses and loan/disbursement activity on the same report.  

PM and team are ciritical for success I don't know that I would say that one should absolutely have 6 months of operating expenses in their bank account before buying a rental property.

Also in knowing what areas of town to be interested in making deals (school district, crime rates, accessibility to venues etc.).My "tips" would be to gain the experience by doing :) I still remember my first day in construction and being nervous and feeling overwhelmed at the prospect of grabbing tools and working on someone else's dream of a new home.

My definition of good is using full or close to full leverage on a property and still being able to get >25% margin (rent - expenses).  

As far as the cash flow goes, one thing I did see as an expense is for management.

It's a single family dwelling and the rent should cover all of my expenses.

Hi @Randy Jones,I think for your first deal, keep it to one property to make it easy on yourself and limit your risk of making mistakes and getting overwhelmed.