I know enough to prepare State taxes where I compute withholdings, unemployment taxes, disability insurance etc.

Also keep in mind, with having this much of your own money invested, it may be a good idea to invest in a good umbrella insurance policy on the property. 

And for the sake of conservatism, let's guesstimate that the total expenses of the property (maintenance, water utility, property tax, insurance, management, and vacancy) will equal 50% of the monthly rent, or $250/month in expenses.So, thus far, we would be earning $250/month, or $3,000/year.

You'll be paying higher insurance for short term rental property, cable/internet, lawn care,  utilities, permits and furnishings.

Currently there is an auto shop renting the building.

So I was just feeling bad because its weird to raise the rent but I think I've been fair enough so far but taxes & insurance do go up every year & I feel that I am already renting super low - for a 4 br SFH they pay $1300.  

Some factors to consider in Daytona or anywhere close to the Coast is Insurance..

Hello All,I'm looking for an investor-friendly agent for home insurance on rehabs and rentals. 

For me, I would want a strong start in building a portfolio with no credit card (or auto) debt and adequate reserves for the future property in the event things go bad.  

I purchased a house 2 years ago with 3% down. The mortgage comes with a hefty PMI per month, and the original lender had sold the mortgage to Dovenmuehle as soon as my house was closed. Since I have been paying extra ...