Rats just need a quarter size hole and mice need a dime size hole.

I probably spend about 1-2 hours per quarter to review financials to ensure no red flags.

Quarterly fees, transfer fees, etc... 

On the personal property if you buy more than 40% of the total amount of personal property for that year in the 4th quarter the depreciation convention changes to the Mid quarter convention method of figuring depreciation.  

Then I strongly recommend quarterly inspection with perimeter spray.

@Tyler Brown instead of receiving the rent directly, why not allow your mother-in-law to receive the rent, pay expenses, and then gift you the remainder each month or once per quarter?

Provide proper notice according to the lease and perform a quarterly fire/safety inspection that includes smoke/CO2 alarms, furnace filters, cracked windows, missing screens, broken locks or electrical or plumbing fixtures, holes in drywall, water/smoke stains on ceiling, missing wood trim or handrails, loose flooring/carpeting, general cleanliness etc.

I'm looking at some deals and see what are my options but I'm looking to get in the game this quarter and get some deals done.

Not at this time, but most likely, we will in the 1st quarter of 2018. 

You'll need to report and pay these income taxes either monthly or quarterly.  7.