Quick question for everyone in this thread, are we taking into consideration “bonus rooms” that some homes offer?  

Very landlord friendly laws as a bonus.

I think fees for setting up and maintaining an LLC for the property should be included in the expense category as well.  

Have them agree to and sign something saying that they won’t accept any fees and require a full itemized bids and estimates from each sub.Hire someone you trust and pay them well, offer bonuses if the project goes well.

I was under the impression that damages are out side of wear and tear and cleaning is just something that doesn't fall in that category.

I can stay as busy as I want/generate considerable revenue in those categories if I choose.

Besides obviously screening great tenants, do you offer some sort of “bonus” if the wear and tear is minimal and it is move in ready for the next occupant.

On paper, there’s an issue (part of my salary is commission and bonuses) but in reality I have plenty of cash to pay two mortgages.

Or find a place with a basement apartment that you can rent long-term or on Airbnb (with the added bonus of a little more privacy.)What's your main motivation?

They have divided them into two categories: Type 1 & Type 2.