Estimated about $25,000 including utility hookups.  

To write off travel expenses incurred while looking for a property to invest in:Business License: Not needed.Deductible Expenses:Travel Costs: Yes, such as gas or airfare.Lodging: Yes.Meals: 50% deductible.Education Travel for Real Estate: Yes, 100% deductible.Important: All these expenses are deductible if you report rental income. 

-Interest rate of 5% is much lower than market interest rates. 7-8%+-There are no capex reserve considerations included. 5% is a starting point.

I am using the BRRRR Calculator and was wondering if Homeowners Insurance estimate was included somewhere or if I had to manually enter it somewhere? 

The other groups I'm in are always reporting the difficulties of getting claims paid for.    

Other strategies include gifting portions of the property to reduce the taxable estate or exploring more complex options like a Qualified Opportunity Fund or a Charitable Remainder Trust to defer or minimize taxes.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.

Is there specific tool you like to use in order to manage your property in regards to rent collection, report maintenance issue etc.?

Things to consider when buying a new build are appliances, fans, blinds, and back yard landscaping; sometimes we can get appliances included, it just depends on the situation.