: Lower Your Small Business Taxes and Tax Savvy for Small Business: A Complete Tax Strategy Guide Twentieth Editionlegal and insurance - Every Landlord's Property Protection Guide: 10 Ways to Cut Your Risk Now (book w/ CD-Rom) and supplement with Every Landlord's Legal Guide (generally speaking Nolo has a good collection of books)property management - an excellent resource is The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants With Fewer Headaches and Maximum Profitentity start and maintenace - Garrett Sutton's Start Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them (Rich Dad Advisors)  and Run Your Own Corporation: How to Legally Operate and Properly Maintain Your Company Into the FutureAnd here is a set of questions to help you judge if you maintain your corporate well:How well have you separated yourself from your business?

Then look more deeply into rental rates for each, how taxes, hoa's and insurance differ etc. to get a better understanding of where your dollars can go the furtherest. 

@Robert BiggerstaffI would only pay people for tasks that they are licensed and insured to perform.

I suggest you add “keep liability separate” and “minimize liability” when possible-insurance, separation, and anonymity. 

Her current mortgage payment is $1,250/mo, and I've estimated other rental expenses (HOA, maintenance, CAPEX, management fees, insurance) at $600/mo. 

Looking for a real estate investor-friendly and responsive insurance agent. 

Finally, I'll speak to licensing and insurance.

To understand the complexities of a househack for tax purpose - You own a personal residence in addition to an investment property.Payments made directly(repairs to unit) to the investment property or indirectly(mortgage interest, real estate taxes, insurance) are deducted against your rental income.

As we bought more houses, we needed "reserves" of the principal-interest-taxes-insurance for each property. 

The minimum loan is usually $50k.4 - You haven't stated anything about the expected expenses other than taxes...and even if that was the only expense you need to have the rent cover...5 - ...assuming at least $900 for insurance, and an increase of at least 50% in taxes (once the assessor realizes the property has gone up substantially in value, your CF would be around $600/month...$7200/year.6 - Out of pocket expenses needed to refi would be around $100k, of which you would only get $75k of the assumed value ($130k) = $97...and be out of pocket for the last $7k.7 - Monthly payment on REFI would be around $550/month or $6600/year.8 - New CF with REFI loan in place would be a whopping $600/year...all goes perfect.9 - I would want $600/month.10 - No loan, and $7200/year CF, recovering $100k would mean it would take you almost 16 years to break even...all perfect....can you say, "new roof, new kitchen, new floors, painting, etc...over and over during those 16 years?