The best thing to do is to put each property in it's own LLC.

It also comes down to what kind of market you are in-- what do guests who come to town want? 

I click on landlord doc.

She wants to talk about RE when she comes home for Thanksgiving so I want to come with with some ideas for her ponder.

Let them come up with any laws all day.

I have also heard some interesting stories about S8 renters- what is the real catch on this? 

The joke used to be that you needed to wait only long enough to put one pen down and pick up the other pen.A refinance is not a taxable event. 

@Shawn NofzigerHi Shawn,I came across your post and while I am a long way from Lansing, I work with a ton of new and aspiring investors and the challenges they have getting from idea to action. 

Welcome to the steel city, I have been investing here for 7 years.

Then divide that cost by the amount of time between now and then and that's how much you should be putting aside for Capex.For general maintenance, the age and condition of the building will play into that.