If that's their typical deal, they do a decent rehab, and they act as the property manager post-sale, it sounds like a solid operation. 

There are other threads on cross-border accounting on BP that also give some recommendations of accountants that others use for their cross-border investing.I would strongly recommend consulting an business attorney knowledgeable in cross-border entity creation as well that can help guide you regarding the pros and cons of operating as an entity.Business trips are absolutely tax deductible as long as the expenses are reasonable (see Amanda Han's recent book - it's a good primer on real estate taxes).

Youor lending operation may avoid a Banking Division cease and desist order but if someone turned you in you'd be setup for a bit of trouble.Just do 3 per year using a LMLO, qualify to 43%, full doc, LMLO is supposed to get a 1003 loan app, but some are lazy and make you do that including getting all the doc.  

Some people love me on BP and others hate me for making the case to operate honest and fairly.

I am all about operating legally and with contracts prepared and approved by local attorneys.

Operating expenses =1,698.              

A home without an operable/sufficient heat source in the winter is considered uninhabitable. 

So....I started telling my family that my hubby and I are moving from CA to MI to start investing in real estate while operating our business remotely and heard so much negativity.

Monthly income from rent: $2,100Mortgage payment (20% down), taxes and insurance $1,210Vacancies 10%: $210 per monthManagement fee 10% $210Total Expenses $1,630Net operating income: $470 per monthA few things I would love feedback on: What am I missing in my analysis (how much % to put aside for repairs each month etc.)?

Keep your standard operating procedures in place and treat every rental situation the same.