There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

I only received verbal information on annual income and credit score of the tenant.

If you’re looking into wholesaling or flipping, merely for a “quick cash fix” then that goal and action plan will be very different than trying to build wealth or passive income.  

@Ammon JensenFor this purpose I do not believe you can write this off, add on that you are paying ordinary income on the 10-12% which let’s say is 20% and after servicing you may actually be losing money every month.

What other kind of income can I deduct with Rental Real Estate losses?

I didn't know that I had to sign up this forum to talk with you.There are several things that I would have done if I were you:First, calculate how much your monthly income and expense.

Their income simply doesn't cover it.

In the meantime another thing to look at with these ratings even though they are irrelevant for reasons discussed in this thread we actually have more positive reviews than negative reviews & are still given an F because we don't pay the BBB annually.

So, there is nothing wrong with your thinking.Buying power in your area should continue to increase as military, civilians, and contractors have been getting decent to very good annual increases. 

Around what percentage annual net collections makes renting out worth it versus just selling and money market/interest.