At the moment, the bigger expenses will be furnishing the units (they will be updated for off-campus housing for a local college) and paying utilities.  

Don't forget to convert the utilities to yourself if they are separate.A landlord best practice is to always change the locks when there is a turnover regardless of the tenant returning the keys to you.

Treat each showing as practice (estimate rents, note needed repairs, and ask about taxes, utilities, and tenant profiles).Also, keep saving aggressively while you learn.

Now I made an account to interact and help out others, see what I can learn as well! 

Likewise as it pertains to STRs having your financing, agent/broker, management, budget (including utilities and launch costs) and unemotional attachment to the outcome can pay dividends.

QuickBooks handles the back end.We run accrual-based accounting for accuracy.Every repair, every utility, every insurance payment, every reimbursable expense, all posted cleanly with classes and tags.When tax season hits, we don’t panic.

That is an included utility because its provided by the municipality. 

They’re coming in roughly 30% higher than existing stock, with no utilities included beyond trash.

Good tenants who want to stay are worth thinking carefully about.I’m Lucas with Howzer Property Management in MA, and we see this come up a lot.One-year lease — prosMore flexibility to adjust rent annually as costs changeEasier to pivot if your plans for the property changeKeeps leases aligned with market cyclesOne-year lease — consSlightly higher turnover risk, even with good tenantsMore frequent renewals and paperworkTwo-year lease — prosStability and predictability (especially if they’re strong tenants)Lower turnover risk and vacancy costsLess administrative workTwo-year lease — consRent can lag market if costs jump (taxes, insurance, utilities)Harder to correct if the tenant situation changesLess flexibility if your plans changeWhat we usually recommendIf you’re going to do a two-year lease, protect yourself:Build in a rent increase for year twoOr include a mid-term rent adjustment tied to operating costsMake sure maintenance responsibilities are crystal clearIn Massachusetts especially, expenses rarely stay flat for two years.For owners who value flexibility, a one-year lease with a strong renewal history often ends up being the sweet spot and what we recommend.

Your goal should be to find good quality professionals who you can rely on to make your investments grow and provide stability.Pick an area that you are familiar with where you have a competitive advantage - Think of an area where you travel often, went to school or grew up.I would invest in one property where the purpose to learn and how you interact with your network.