Which would cash flow a nice $1,400 or $480-500 net, but then I realized the taxes were triple what I estimated, instead of 2k it was over 6k!

Thanks @Wilson Churchill and Account Closed I didn't realize that the instructions for Schedule A, Line 14 state that investment interest does not include any interest allocable to passive activities. 

After a few minutes i realize it maybe the HOA.

I am capitalizing the house costs, but I am just wondering if there is a point where I realize I have bought a looser.  

The reason why a lot of people sell by owner is so the debt doesn't get paid but they receive the money for the property.I have a relative that tried to see her property to me but she did not realize a was a realtor at the time.

Thanks also for the link to the evictionsunlimited.com site.Regarding the grace period - I do realize it's working against me (I might as well just make the rent due on the 5th), so I'm no longer going to include that in future leases.

That is not to say in contrast, that complete strangers do not convey interests with little or no warranty or guarantee, since they do, it just means the Grantee in such cases should realize they must defend title on their own and no warranty is being made that a claim exists.It is important to note, "protection" for a property owner will reside mostly with the insurance policy held for the property and not with the limitation of liability created from the LLC.  

Once you get close to your goal, realize the goal will change.   

Once we realized it, it might be too late to get out in once piece. 

Therefore, we saw the property and liked it, so I ran deeper numbers on it without listening to the original red flags.Kayla you have already answered this in your gut--maybe you just haven't realized it yet.