I know some landlords don't want to have anything to do with their tenants, but we don't operate that way. 

Does the 50% rule include only operating expense, or does it also include debt coverage and taxes as well?

If you actively participate in your passive businesses (actively participating in a passive business is different than operating an active-income business), however, you can deduct up to $25k in passive losses per year against your other income, provided that you don't exceed the income threshold.

But until that point you have to just grind it out as a sole operator doing what your doing.

(I plan to keep all deposits, and operating funds separate from my personal accounts and in their own respective accounts.)When setting up new bank accounts, is there a benefit to using a bank local to the market you're investing in? 

Etc.I think your best bet is to get a grasp on exactly what this property is costing you so you can decide how to best move forward. 

From the formula, we know that cap rate starts with NOI (i.e. revenues minus all operating expenses).

You could always have someone else co sign but that has its own issues.Your best bet is to do great in school, minimize student debt, and work an internship or two within your field while in school.

Umbrella insurance is much cheaper.One last thing is if you operate thru S Corps and LLC's when you get insurance, make sure to get an endorsement covering you personally as well.

For me, I am trying to minimize risk by saving some of my cash for operating capital.