Meaning, if I am earning $10,000 annual on gross collected rents, a buyer should pay 1-1.25 times for that income stream?

I'm not the sharpest tool in the shed, and if you give me a penny for my thoughts you'll get change back, but I grew up in Texas and we're grass fed on personal responsibility down here, so... 

It's your property and investment.Of course you don't want the maintenance person taking your $300 set of a steak knifes.  

Hi Babu,A simple rental property balance sheet will have the following accounts:Assets: Cash, tax and insurance escrow, fixed assets and depreciationLiabilities: Credit cards, security deposits, and loansEquity: Opening balance equity, owner's contributions/distributions, retained earnings and net incomeThere could be a number of reasons that your balance sheet does not balance.

Did the pest control person seem to indicate an infestation? 

But we could not personally afford the mortgage on this place without a renter.

- How many personal use days (sometimes including family or other discounted renters) do you plan to have? 

If you can't qualify as a real estate professional, your ability to use PALs to offset non-passive income (like your W2 earnings) might be limited.

I’m personally happier entering into longer leases, even though they purport to offer premiums over market rents.

I only WISH I had known about this ability to make money earn in two places at once while ALSO getting a death benefit and future tax benefits.