Based on my experience with hoarders - Leave it alone.Unless they are causing damage you really don't want to spend your energy chasing that.

@Lauren Samford I can spend a few minutes on the phone with you.Good Investing...

Any expense that you spend specifically for the rental side, such a repairing the plumbing or replacing a light fixture, is expensed against the rental income.How you pay the mortgage does not matter. 

ARV=$260K, (Zillow estimates this one a bit too high)Purchase= $11KRepairs= $50K -$60K  (we spend far more on the rehab for reasons that are beyond the scope of this message).Hard to believe for most, but true...I won't even get into how much we could have wholesaled this one for!

Additionally, are there any other rules of thumb or key indicators you would recommend monitoring to ensure operational efficiency and profitability?

@Rafal SoltysekI invest in Columbus OH, huge growth to come from recent additions to the tech sector (google, intel, amazon, honda, and many start ups).

I like to spend a few hours on this, as much time as needed, every few years.Good Luck! 

Can you rent an additional garage space? 

That way the title company can determine if there are judgment liens or mechanics liens, in addition to title status, easements, etc.

Lenders spend upwards of $10,000 in-house to get these notes of service rolling so as far as interest rates are concerned, you won't see industry-low rates.- As far as the fees go, UW fees are usually a standard but again, the origination is derived from the loan amount so some institutions who are charged borrower paid may hit you with a 3% fee.- Not saying it is an industry standard to charge 16% in closing costs but it once you add up all of your prepaids, other costs, and unfinanced fees its not completely unheard of.In the end, yes - always get a second opinion.