I worked several years as a Software Engineer but made the switch to become a legal professional.

If you incorporate, you can write off many things, like the books you buy, the miles you drive, the electricity bills, etc.

Young people consume lots of hot water.We have a 5-bdrm student house which has undergone a significant energy efficiency retrofit ... but ~50% of the monthly electrical consumption is hot water.

It helps to have the city on board with your plan...especially early on in your career.The team you will need might well include:  mentor, attorney, architect,  civil engineer, cpa,  friendly banker, some some equity partners to boot.  

Asking price: $42,500 eachRent : $600/monthUtilities: all paid by tenants (Electric, gas heat and water, sewer)Taxes: $600/year each unitInsurance: $600/ year per unitGross income: $21,600/yearExpenses: $3600Vacancy of 10% - $2,160

We are stepping into this and would need to assume infrastructure responsibilities to include: water, sewer, gas, electric, waste water management, impact fees and initial paving of public cul de sac.

I love guitars (I'm more into electric and amps) and I also obsessively look at houses and listen to the podcasts as well!

The owner is the largest tenant with 2,120 sq ft, another tenant has 1,606 sq ft, balance (3) are all less than 400 sq ft, vacant office of 350 sf. with the balance being common elements, corridors, stairways, elevators, bathrooms, kitchen, etc.Gross rental income per the listing agent is $108,660, expenses are $41,225 annual condo fee (CAM) which includes electric, water/sewer, janitorial and property management, the estimated new property taxes are $15,500, and insurance approx. $2000.All tenants' leases are 1 year and/or have less than 1 year remaining.The property was purchased by the seller in 2011 for $350,000.

Value engineer (choose less expensive finishes) Last resort I'd do a redesign.

The house needs everything: Roof, gutters, siding (asbestos shingles nailed over older cedar shingles), drainage abatement, rehabbed bath, total kitchen, replaced flooring (half), refinished flooring (other half), back steps, total landscape, HVAC (old furnace is missing), insulation (2" in attic; none elsewhere) additional electrical circuits, plumbing includes iron pipes, interior trim and paint.