I wouldn't expense the fees as an ordinary expense on your schedule C but would lump the fees into one of the appropriate expense on the schedule E that reports your rental activity. 

The fact that I have a multiple product discount helps greatly.

There are lots of loan products for first time buyers including low down payment etc.

I contemplated selling a 3 family  house in Newark NJ and use the funds to a different product.

More experienced investors will have access to amazing loan products that newbies just won't get.

E and O insurance, 5.

There is no better loan product then the VA loan.

Hi @James Sea,Obviously you would need your reserves to be held in a very liquid account. 

If paying for 2 appraisals is a stretch, I would be very conservative on your next endeavor on getting a Heloc which is a risky product

I know it sounds counter productive, but it usually saves time and money to offer the tenant some cash to be out by a certain time leaving the property in a certain condition.