Do you pay the local taxes on my property?

Paying off a house completely is a trap.

If you charge $10 daily fee starting on the 5th and the tenant pays on the 11th, is that $60 or $70?

(source below)I ran these numbers on my own portfolio (of 9 units, 4 properties, mostly updated with Low CapX) in Green Bay, WI and my tenants are paying on average $1.08 per SQFT and moy cost is $103 PSF. 

If it is simply a SFR then you live in one room and rent out the rest.

.$995 is great rent but you also don't want to evict if tenants can't pay because turnover costs can kill the ROI.Just my opinion 

We get calls all the time from people that claim to be investors wanting to buy one of our properties (including some we sold more than a year ago - shows how accurate some of the pay lists actually are) and when pressed, it is clear they are fishing for deals to wholesale without having buyers lined up. 

They typically pay too much for their deals, especially if they are wholesaling from out of state for the same reason you stated...prices are all over the place.

I am a tax attorney and i still am confused, and I am willing to bet that most people will be putting it on schedul e, not paying se tax, not calling it passive, and deducting losses against w2 income, and playing roulette with audits.  

There's just 100 ways people can scream discrimination, when 90% of the time it's simply " You don't meet the income to rent"  There's crazier things for sure, but this has been consistent!