CLT renting prices are expensive, why not pay a little more monthly owning property that will appreciate in value

not sure about beaver county rent by the room rents are pretty low there as it is.

Hudson really an investors challenge is determining if how much cashflow they want vs cash.The inherited house demonstrates this:1) You didn't mention the mortgage PITI, but assuming it's low, you should cashflow well and even more if you have tenants pay the mortgage off over time.2) You could also do a cashout refinance, up to an amount that allows the rent to comfortably cover, and use the cash for further investments or personal use. 

Maintain proper records - Contracts, Settlement Statements, Agreements, Promissory Notes etc.Additionally, youcan track income and expenses consistently, using software or spreadsheets.As you scale, ifbookkeeping isn't fun for you, consider hiring a bookkeeper for a couplehundred bucks per month.

I try to consider my expenses separately from my rents.

What they should have done is not brought low cap deals in 2021-2022.

Context: I'm entirely invested in low cost, diversified stock index funds, and I expect them to earn a~8% CAGR on a nominal basis.

Its in the 34652 zip code and has been fixed up by the turn key provider so there should be no additional expenses. 

You will report your rental income and expenses on Schedule E.

Once you have a good estimation of rents that is your income and you can calculate the other expenses an ultimately your returns.