Now I have a problem, I need post ad for new tenant, but this fraudulent ad is still on Craigslist ( which with very low rent asking).

opinion.In a very general overview, I current own my home with a mortgage payment around 1150 and have done a comparative market analysis on the rent in my area and they are anywhere between 2000 and 2750.With that being said, I have been entertaining the idea of renting this house out and down sizing/grading a bit and purchasing another home to live in.Essentially, estimating this on the low conservative end of the spectrum from my "due diligence", it appears as if I rented this out I could cover my mortgage for my current home and then also cover the mortgage on the new primary residence.What are your guys' thoughts on this?

If anyone would care to elaborate.We're targeting low to mid-teens all in IRR (5 year holding period).

My question was how people "deduct"/don't pay tax on those expenses.To provide numbers, again this on a property, but not one I currently own (tenant in place for 1 year so no ads, turnkey so should have low repairs, but I still use 8%).income 1250$/monthTaxes 177$/monthInsurance 100 $/monthmgmt fees 100$/monthmaint 100$/monthVacancy (not actual money put aside) 125 $/monthCapex 183$/monthmortgage 440$/month of which Interest 4000K/year (330$/month)monthly expenses:1225$/monthprojected net income: 25$/month

So anything not expected to last a minimum of 5 years is included in the Rehab.For Vacancy I can care less how low a Seller or market average is.  

I'd recommend as @Theo Hicks said to stick to a weekly report from your PM and then calls on as needed basis.Before you jump into this investment, ensure that the numbers work and the overall investment makes sense = low vacancy, demand is high, town population is on the rise, jobs are available and accessible, etc.Best of luck!

I most definitely count myself as lucky for having the "low risk" opportunities to just sort of 'go through the motions', but maybe its because I have had that chance that I know I still have so much to learn on this journey before I make my first INTENTIONAL investment purchase.

I have good credit with a very low credit utilization at the moment, and I don't really want to jeopardize it too much.

Your agent fees are far too low.

I had a low BS meter before and it’s about the same now.