I believe the accounting will be the same in the end although I haven't spoken to my CPA yet on how to track it.  

Having cash flow that covers your monthly overhead, makes you somewhat financially independent = don't HAVE to work for income.So again, it depends on what your plan is.

Would that landlord still need to track down his or her former tenants and give them notice even though they've already moved? 

I'm looking for a solid Palm Beach realtor with a good track record of deals specifically in the Palm Beach area.My intent is to purchase SFH or townhomes to use as vacation rentals only.

They threatened to cancel me unless i repair the roof on the garage and the overhead garage door, even though I'm not allowing use of the garage.As for section 8, in addition to having somewhat guarantees monthly rent, also means your apartment must pass a pretty rigorous inspection every year.

I am attending a local real estate group in Puyallup so you are on the right track in looking for local groups. 

Tenants ran over heads in both of these mowing. 

Even if the new tenant checks out fine, they are still more of an unknown quantity than the one who has a mulit-year track record of being a good tenant. 

Track all off your expenses and incomes you are responsible for in report format and review them regularly with a few people that you trust in and understand your goals in an attempt to reduce expenses and increase your income in a way to increase your profit.  

Fast pace but the construction budget is not competitively bid.Fast Track - You would not do this but it exists.