In other good news, your interest expense will go down every year and hopefully your rent will go up every year.

This money has essentially paid for that knowledge and experience.

I assume you put in all your expenses in Quick books?

First timer here, I live in Seattle, WA houses here are too expensive to make a mistakes for first timer, so I am considering start small from more affordable areas, like Detroit Metro Area or Cleveland, or maybe other locations more seasoned investors can recommend. 

One reason I did not initially raise the rent higher is because I switched the heating system to a new tenant paid system and the extra cost made up for the difference in rent.

@Bonnie Low if you have an international student they will have an SSN if they will be paid by the university or sometimes get an ITIN to open a bank account. locally you may be able to search by name in local databases but it isn't usually helpful.

So I was buying repair items for my rental at Home Depot and I forgot and used my personal debit card...is there a simple way of expensing the items and paying for them out of the business account AFTER the fact? 

Questions I'd have if I were in your shoes would be based around how the CAM expenses, management, taxes etc are going to work. 

If we bring the property management company tenants we expect to get paid.

You can also consider out-of-state if your primary market is too expensive