We did this because we won’t be living here forever, and want my full entitlement available for when we do move for a primary residence that will not become a rental.

Of course land acquisition factors into this as it always does, and getting more rural = cheaper land but at cost of greater input for buildable land so I see it in many cases close to a break-even on that point.

Is it just a matter of factoring these expenses into the analysis and seeing what the monthly cash flow is like? 

I doubt inventory will be substantially up until spring and demand isn’t going anywhere, so the big factor is rates.

That is one of the factors driving inflation.

I don’t know how one can be a PM and not focused on asset management AND property management @Nicholas R Paust - with inventory tight it can be hard to gauge rent well at the moment especially when you consider factors like area, amenities, unit condition against comps, etc.

If they are already factoring the expenses in before sending your income over, then it is done and done.In that sense from a tax perspective there is no difference in...Revenue - $2000Expenses - $400Income - $2000 - $400 = $1600OrIncome = $1600They're effectively the same. 

You need a lender that doesn't factor your DTI/ DSCR into the lending equation.

Another thing that could be a factor is homestead exemption / owner occupied tax discounts.

I know I would want to factor this into my cashflow and property analysis.