If so I would thoroughly ready this to see what they require and what you agreed to.I doubt you can keep your permit if you refuse their inspection.If you are doing everything as you should, you shouldn't have anything to worry about.

Specifically I am trying to figure out the best vehicle through which to conduct our REI.

Keeping it real here.

Since your homes are free and clear, keep them that way.

@Bryce Jamison As long as the previous owner keeps up with the maintenance of the home and keeps it in good condition, I tend to favor older homes in established neighborhoods.

Just keep in mind each persons situation is completely different and small things can make a big difference in rates, fee's points, terms, etc. 

I keep saying it's making me a better investor and that's probably true.

Keep the focus on the lease; it rules - and he signed it.  

All while keeping QB for expenses. 

However, after you get some experience, you probably want to get a Private Lender since this will allow you to keep the majority of the profits.