That impacts the total return over time (which includes cash flow, mortgage repayment, price appreciation) quite a bit.

This is impacted by your out of pocket and the equity in the property.A great cash flowing property like yours if it's paid off is OK - you would net around 18K after expenses (not factoring in allowances). 

Originally posted by @Quinton Bogle:@Bjorn Ahlblad without the LLC can you still use depreciation You can.......an LLC has no impact on your tax return-it is known as a 'disregarded entity' for tax purposes.

You also aren't going to make enough money on $2,000-$3,000 to have a meaningful impact on the time it takes you to save unless you get incredibly lucky, you could also lose a bit of ground as well as stocks don't always go up over the short term.

However, I have always found it most impactful to find a strong mentor who can be used to answer question and bounce ideas off of.

Run the numbers and see what get’s you the best return, including the tax impact.

I pay HOA ($100/year), otherwise tenant pays trash, water, electric, cable/internetSomeone mentioned it impacting your credit??  

I look for up and coming neighborhoods in cities that have strong economies and are not heavily impacted by a downturn.2.)

Location, climate, influx of people, culture

The TYPE of property will certainly have an impact on what type of loan options you have.