Additionally, we use a set of spreadsheets for categorization of rental expenses, plus another for property maintenance, task lists, etc...

In addition to the above, once you put your apartment online for rent...you will know if it's reasonable or not based on the number of inquiries you receive.I just placed my 1/1 w/ Office online and received 60+ inquiries within 2 weeks.

One solution that comes to mind is to refinance into an IRA.

However I kept the units small and included them in the ammenities of the units as an additional selling feature. 

Additional information is available upon request!

Additionally they can legally demand all their remaining advance payment back at any time since it remains their money until used up.

Make sure to provide the real estate agent - your lease agreement including all additions and provisions, instructions on how to screen the tenants (you set the terms according to the specific house in the specific neighborhood comparing to other rental in the area). and you let the RE agent list the rental in the MLS.

Senior citizen homeowners may also get an additional discount not available to non-owner occupied properties.  

@Nicholas Hytla as long as you still have some VA benefit left and you met the minimum residency requirement you may use the first property as a rental and use more of your benefit for an additional (new) home.

Brandon Turner and David Greene talked about building additional rooms (assuming the zoning will allow it) on a recent BP podcast.