You are their landlord.Make all of your decisions based on solid market driven metrics.   

I recovered and hired a PM who specializes in S8  What led you to this decision and would you be open to connecting?

Therefore, choosing the right investment city is the most critical decision you'll make.Critical factors for an investment city that will enable financial freedom:Cities with a population >1M: Start with cities with a metro population greater than 1M**.** Small towns may rely too much on a single business or market segment.

This turned out to be a great decision for us and our investors, because a few months after the buyout was complete we sold the property for a massive gain, and our investors received profits that would otherwise have been allocated to the institutional LP had they still been in the deal.For these reasons but not only these reasons we choose to raise capital from our base of HNW investors. 

It is quite complex and heavily manual and opinionative (a lot of decision comes from intuition). 

You trust that you made the right decision.

So, you may want to look at what that will add up to as you make decisions because covering the mortgage is very different than "breaking even".  

Corey- I am thrilled to hear about your decision to invest in real estate.

@Tony Thomas Even though it does not appear there are any meaningful tax advantages, I believe the lesson to be learned here is to focus on making business decisions that are best for the real estate and operation of that real estate.

Consider if it will truly benefit your tax position, liability protection, or asset management, or if it will just add unnecessary paperwork.If you’re in a state like California, keep in mind that you’ll have to pay $800 annually to the Franchise Tax Board, file a periodic Statement of Information (SOI), and submit a Beneficial Ownership Information (BOI) report.It’s a good idea to consult a real estate attorney to ensure you’re making the best decision for your specific needs.