Will the rent be $2100 gross total after all remodeling or before?

As mentioned previously try to aim for the 1% rule, with a $197k purchase price, you'd want $1970 in gross rent.All that being said, kudos on your first property, much better to get your primary mortgage subsidized by a tenant than you pay 100% out of your pocket.

This is a good question I have struggled with but the short answer is I supply all the "consumables" if the commission rate is high enough.In my own business if I am getting 17.5% to 20% of the gross income then I will be happy to supply all the TP, paper towels, shampoo, soap, and cooking basics like salt, pepper, olive, oil, etc.  

@Jason VandermarkIf you use $3.50 per SF or 35% of the Gross Potential Income (All Units Rented at Market Rate) then it’s a good overall ballpark for expenses.

If you subtract my cost from the medium gross rents I have a Net Profit of $24,000 a year minimum.

Roughly gross 100k.

I only put 10% down, so the total equity is around $77,000 gross with an LTV of around 70%.

Otherwise it will get messy eventually.From a conversation with a banker, my impression is that their bank will either look at 75% of gross rent (when you don't have a 1 or 2 year rental history), or 100% of what you reported on schedule E (which is rent deducted all repairs and things).

Current gross rent is at $1,750.

California charges a minimum tax of $800 a year per LLC, and more if you have gross receipts in excess of $250k.