, any personal items to be removed/locked up etc? 

It has to fit with your business model and budget.

Our model is basically 2 people to a room, each individual pays $175 a week, each house has a manager (who lives free of charge)that handles intakes, discharges, accountability, checking chores and collecting the rent.

Neither the model is STUPID nor I am loosing money. 

I'm considering doing it as an LLC to reduce liability.Thank youLike all legal items....you should consult with your attorney before making any decisions.

@William Coet it’s a different business model altogether.I love highly desirable areas that attract highly skilled high income college educated workforces.They tend to be more liberal and therefore the landlord tenant laws.The percent of their income that goes to rent is typically much less than 20% so a rental increase of 5-10% is nothing to them.They are typically lower cap rate areas and therefore every dollar of net operating income that is earned is explosive to the underlying asset value.

Also if someone will be hammering all day that is a good to know item. 

These are the items to look out for with your tax professional.

Great dude, great business model, and has his priorities and goals in mind every time he does a deal.

No I didn't install a foam backer rod, wasn't aware of this item, thanks for the tip :)Floor was very clean but not perfectly level as the house is over 100 years old.