Pretty sure you cannot write off utilities and insurance since it is your residence (you could if it were a true flip).

Most common advice for starting out is to house hack.

All i could say is first need to do your research, you need to know the market status on your area, trends, and also if you could utilize the power of internet, like make an announcement on facebook or just create a website, forthomebuyers is doing the same thing and they focus their market on Texas.

I own one half of a duplex condo building  (quite common in Connecticut), I moved out of my unit a year ago and now rent it out for nice Cashflow.

@Adam Turner, the fact that it'll cost at least as much as it's worth suggests that deals like this are common. ie.

Credit Default Insurance is very common in Europe it used to be offered in the US but not anymore as far as I know.

He still has utilities, student loans (probably), car payment, etc.

This allows you to turn one property into potentially 5 by only utilizing 20% as a down payment on the property of your current cash as an example.

A patch kit or asphalt over it all is very common.

After the lower was done we began a full rehab on the upstairs, keeping the home zoned two family, separating utilities, and gutting to the studs.