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 ...

Take any money set aside for capex, insurance, taxes, and other "set-asides" and transfer that to savings.

Consider it insurance against avoiding problems later.