Having a clear plan showing a variety of “if bad things happen” scenarios plotted out (economic woes, bad tenants, unexpected expenses) B.

Plus you could deduct this as a business expense. 

The appreciation rate in Columbus has been 8% higher than the national average over the last year.

Every area has different average CAPS, but the CAP is NOT set by anyone. 

If I can breakeven after all expenses (e.g., PITI, capex budgeting etc.), I'd consider it a win.

Regardless of the plight of illegals, my job is to protect a very expensive investment, and if someone can't be taken to court or sued or have their wages garnished, etc., I am not going to gamble on them.

He did an amazing job considering my buildings are not the beautiful expensive houses he usually has to work with!

Also, don't forget all of the expenses that go into setting up the house and maintaining utilities for the guests.

All or some expenses run through the PM and offset the income?

Higher cost of funds + higher operational costs = larger focus on operational efficiencyA positive that is sure to come from the rise in virtually all expenses associated with running a business is that owner/operators will be forced to tidy up their operations.