Also make sure you factor in 8.5% hotel tax as well as any applicable state taxes.  

Would that mean ($341.67 X 4 months) $1,367 that should be considered for property tax as opposed to the 18 months below?

We are checking into a 1031 to defer as much tax as possible so will be buying a lot in a flurry of activity.

And you will get to use the deferred tax as part of that purchase.

I'm based in RI so it seems, from my perspective, like every other part of the country has more going for it than RI (economically), but it's always nice to hear what others think, especially ones from out of the area that find RI attractive for some reason.Also if you're planning on doing short term rentals in Rhode Island you should know that starting last year RI added a special short term rental tax.

(In large part due to prop 13 which basically makes prop tax a fixed cost). 

@Lana Lee - if you are going to do your own tenant management inside the City of Philadelphia (and I do encourage you to do so), I highly recommend that you join HAPCO; you will receive a manual that goes into some of the quirks that exist within Philadelphia's landlord tenant regulations.And I recommend you also join DIG http://digonline.org/DIG members get discounted rates for screening services (I use TenantReports.com where I get a bundle of credit reports plus nationwide criminal and eviction reports for $25 plus sales tax as a DIG member), plus DIG has some training classes that you might find of value - Don Beck holds a landlord class every year or so and you will learn a lot just from this one day in class with him.

Greg Abbott’s $18 billion tax cut package for Texas homeowners came into force on Monday, but many residents complained to Newsweek that they are still facing impossibly high taxes on their homes.Property Taxes by the stateProperty TaxesDespite having no personal income tax—a perk that has attracted many to move to the Lone Star State—Texas has some of the country’s highest taxes.

Unlike passive rental income, the income from an active trade or business is subject to self employment tax (a nasty 15% tax commonly referred to a "social security and medicare" by working folks).

As of now all states except PA also allow you to do the same with State capital gains tax as well.