That is a big step that very few get too.As far as financing, its hard to say if it was good or bad.

I'd like to save a step so we can save costs....unless there is a purpose here that I cannot see. 

If so, you can bill back water/sewer consumption (increasing the NOI and cutting one of your largest expenses)  but you'll want to see if that's common practice with your competition and ensure rents line up as well.

That is where the Turnkey company steps in as they should do that all for you!

I feel like I'm at a point where I should get my feet wet and practice analyzing deals.

All of the information is rather overwhelming so I will take it one step at a time.

One "best practice" tip would be to make sure the lawyer spells out everything in the engagement letter.

Topics such as:Title Company best practices?

For the most part, if it is reasonable for the rental it is deductible (technically the rule is ordinary and necessary, but for practical purposes it is that the expense is reasonable).

Makes a great step latter or extension ladder.