I have all my tasks kept separately so just rent received/owed, maintenance, etc.

The info I do have is:Initally put 20% downRefinanced last year at 4.75% fixed for 30 yearsMonthly payment is $952 (if she indeed has 30 years left on the loan, my guess is that the balance is $183,500)Annual taxes/insurance is $1800HOA fee is $49/monthHas been able to consistently rent it for $1500/month with tenant paying utilitiesFrom that, it looks like someone taking over payments could rent it out and make $4078 annually.

I might have some deferred maintenance mind you, but wouldn't have any homes at risk... and 50% vacancy would be a pretty extreme situation across a portfolio of homes.

This includes demo and disposal, paint, carpet/vinyl flooring, new cabinets/countertops, new finish electrical fixtures, new finish plumbing fixtures, HVAC maintenance and appliances, refinishing/polishing tubs/showers and house cleaning.

The idea that anyone could hire a professional manager, hire a maintenance crew, & do a better job of selecting tenants than me, at a lower cost is really silly.

On a $30K investment (actually higher with your closing costs), you're looking at about 8.7% cash on cash return.Now, if you manage it yourself and handle minor maintenance you can earn a pretty good chunk of that "50%" for yourself.

I've now been using them for a dozen years (even though I moved out of the state in 2013), and Investors Accounting has saved me literally hundreds of thousands of dollars over the past decade...their annual fee is basically nothing compared to that.But, I agree that if I just wanted tax prep, I'd probably go somewhere else (or do it myself). 

We repair and do not replace appliances.We do not provide a washer and dryer.There is a place for hookups but our maintenance guy hooks them up when they move in.

This would help subsidize the lease payment without taking on too much risk should the son/daughter decide to leave school.I live in a college town and I see examples where parents bought their kids "a place to live" near campus and it almost always ends up biting them in the ***.Most of the near campus properties are older and require a lot of maintenance.

For instance, with a C-Corp and S-Corp you need to hold annual board meetings.