The rent I collected during my approximate 14 months of ownership basically covered the rehab and other minor maintenance things I had come up.

I bought a house a few months ago and am currently renting the other rooms to my friends (they're covering the mortgage).

Probably closer to 7.5% each.You should verify the taxes through the town.Any shared utilities that you'll have to cover?

That largely depends upon your personal situation, but in general a new investor can be covered by a very good insurance policy.If you decide that you should have an entity, what type of entity you form (generally an LLC or S-corp, although there are other options) depends upon what type of investing you are doing and how you want things to work. 

I'm an agent that covers Madison and areas north.

Get a report if there is one Change the locks Repair any damage If it’s really bad call your insurer As mentioned this is a common game loser tenants play and often it’s a lie to cover up something

They will do 20 year mortgages that cover both purchase and repairs for 20% down.

Our insurance covers lost rent (but not the utilities during the untenable period).  

I've been using the BP Rental Property Calculator to practice analyzing deals, and have come up with an idea of what my desired cash flow and cash-on-cash criteria should be (especially since these categories are well-covered in the webinars).

Send the notice by regular first class mail, certified mail and have someone local post it on the door in a conspicuous place (put it up with good heavy tape & protected from rain or covered with plastic) and take a picture of it for your records.