Note that the "taxes & insurance" part of the payment are really expenses.

This is after all operating expenses (taxes, insurance, prop. management, repairs, vacancies, etc.).

We live near each other, share autos, pool insurance, pool investments, watch each other's kids and pets, etc.I see long term, and by that I mean multi-generational, wealth building to be a good thing.

All she would have to pay is the utilities, insurance, pest control, taxes, and maintenance costs.Do you really think my attorney is not working in my best interest?

(Plus I wanted the $1300 a month income from Section 8) My mortage with taxes and insurance is $797...Well, she has been there 10 days now, and there is trash all over the yard, bags and boxes on the deck outside.

My partner and I have buying foreclosure for the last 18 months and am curious to how everyone approaches insuring these properties.

All 4 of my properties are currently positive cash flow… from $100 to $250 a month per property after mortgage, taxes and insurance.

My back ground is in Title Insurance but I have been lucky enough to escape that trap some years ago.

Insurance, advertising, tenant screening, legal fees, maintenance, evictions, the list goes on.If the net taxable income is negative (entirely possible with the depreciation) you may be able to deduct this against your ordinary income.

You'll pay more in utilities, insurance and interest payments than you expect.