I have entertained the idea of getting my real estate license (so we could be saving money on our buys and sells) as well as helping take care of the odds and ends errands that eats into my husband’s time (running to stores for materials, fixtures, etc.).

We have not mentioned the buyers holding costs, taxes, cutting the grass, anything!!

I'd be careful before you go claiming somethings is illegal. 

Not too bad in todays local market if it's well taken care of and somewhat updated, but like @David Bardwell said, forget the purchase price until you're finished analyzing.

I cut the grass, plow the snow, etc.

Takes a little maneuvering but if you're making 10's of K's of $'s per year per place, who cares?

@Nick Zias I know several people that own multiple homes in MSP.You need to do it because you care and have the money be a secondary goal.

This helps to elimate service being cut off and then going through the hassle and expense of having them reconnected. 

It is not in the best (Or Worst) neighborhood so I know it wouldn't attract the best tenants but if I screen properly I think I would find good enough tenants to take care of the property and pay rent on time. 

From what I understand outstanding tax liabilities (even with IRS and not just property tax) are another big ticket item that you have to be careful of.