Even so.....this is a less than 1% rule when fully occupied. 

I would stick with the 2 week rule as this is the most conservative of the advice given.

I do not have meetings with tenants who are causing problems and blatantly rule-breaking.

Any advice for a first time Landlord would be fantastic, and greatly appreciated!! 

Since all of your 1099 compensation is direct compensation for your professional services, the usual S-corp trick of setting a low salary for yourself breaks the rules.

It's also a great time to lay down the ground rules and make sure they are on board and just establish rapport in general, which to me is important. 

I then run the numbers not for what the asking price is but what I can offer to make them follow the 2% rule, as well as 1.75% and 1.5%.

However, I do know there's codes and rules for the units to "pass" to be section 8, so I would look into those before the purchase (see if and how much you might need to put in) and know some basic things like that if you don't already.

So i've heard many people talk about the 1% rule.

This rule ensures any deflation in value occurring while the property was held as a personal residence does not later become deductible upon sale of the rental property.