The tax deduction is pre-tax cash-flow minus depreciation, correct?

I just read the "Ultimate Beginner Guide" provided by BiggerPockets and noted the investment rule of 2%, and find it may not be realistic in my humble opinion.If I am correct using the 2% rule, a home that cost $200,000 should rent for $4,000/mth.

with the correct information about tenant/landlord law.

brian, you are correct... i paid cash for that house. i had to since it had no plumbing and i could have never gotten a standard mortgage.i was thinking to leverage that house, get a 80k mortgage, obtain a ~$400 payment (at 4%) and use the 80k to get another house cashflowing around $500 so that it can pay for this one.this one, i use one to get another house...

We are trying to get all the facts and forms correct with this process, while abiding by Illinois state laws.

Finally, Will is correct, it is a JOB, and treating it differently will most likely result in failure.

Yes Matt, you're correct.

Correct?

My instincts on my first two tenants based on conversation alone was correct, but I still get an application to verify past residences and work history.

(correct me if wrong).