It did cost an extra $800 in up front costs (they do extra inspections and 3rd party stuff to approve repairs) but a portion of that was rolled into the loan.

As stated on the Florida Revenue site, Miami-Dade County is an exception, where the rate is $.60 per $100 of consideration (or portion thereof) when the property is a single-family dwelling.

You're essentially acting as a RE agent, general contractor and PM, but retaining a portion of the profits.

In this situation, you probably would not even need the "lease agreement" portion.

I have had property management company in place from day one and they have collected all rents in full, but they have twice accessed a $30 late fee on a renter who only pays $100 as their portion.

The best deals on MLS are sold to the early bird.If your getting any delay, forget about a significant portion of the best.

If the rent is higher than that, is the renter allowed to pay any portion above that amount?

hate to give this place up because it's a one of a kind property in a very desirable area and I'm thinking it could do well as a VRBO.In a nutshell, it's a 4 Bed, 3 Bath home on a little over 2 acres with:Indoor Pool and Spa with Retractable Roof.Separate but connected Diner / Malt Shop with Fridge, TV and Stereo.Huge Game Room off said Diner.The Game Room is actually a oversize 4 car garage, but it's fully finished, fully insulated, has it's own central heat and air and a full bathroom.Prior owner used this portion of the garages as a showroom for his car collection, we use it as a huge Gameroom.This gameroom has a 65" HD TV, Stereo system, Regulation Pool Table, Professional Quality Fooseball Table, Professional Quality Ping Pong Table and a low end Air Hockey table in it.House also has a 3 car attached garage and 4 more garage bays in addition to the 4 bay garage area we use as a gameroom.There is also a horse barn on the property, but we use that just for storage.Home is near major highways, major shopping, dining, entertainment etc. in the city of Lucas which is North of Dallas.I've seen VRBO homes in Allen that are in the mid to upper 100's per night that look like they are doing fine - I'm basing that on pulling up their calendar and seeing the days they have booked into the future.

At least a recording fee to record the lien portion of the loan (mortgage or deed of trust).

The other unit was rented out, and I've been depreciating the portion of the property that is r ented, as well as improvements I've been making so far.