If something goes wrong the holiday's can get quite awkward. 

Points that stood out:ferry ride is 30 minutes just to get to the tip of Manhattan, so Midtown is an hour ride giving LIC a huge advantagethe rush hour crunch at loading at either end of the ride isn't that pleasantthe Verrazano Bridge toll is $16 cash, which makes it a bit awkward to invite family / friends over on the weekend (compared to areas served by free bridges)the local supermarkets are in less developed areas which requires venturing out of the luxury bubble (which will probably change)What I found is that people looking to rent on SI already have some connection to SI (which means avoiding the bridge toll issue and familiarity with the commute).This is not necessarily a Bad Thing. 

What your currently doing is leading people on and will most likely lead to an awkward and unpleasant conversation for you. 

If you're one of those timid folk who would rather swim with crocodiles than head the eviction process yourself then hire a lawyer - I recommend finding one who will evict for a set rate so you don't end up getting some crazy, unexpected bill.I evict tenants on my own (when I lived out of state my lawyer friend helped me do two evictions free of charge but the other two evictions I performed myself - they're a tad bit awkward, sure, but not as awkward as letting someone live rent free in your property).

So, that part is more about me staying out of the crosshairs of the city and less so about saving the money.The large operators in my market have their own staff, but as @Mike Dymski points out - if you're in that awkward stage of growth in your business (let's call it the "tweens"), it indeed creates a dilemma.I get it, @Bruce N. - you are not the only one looking for answers. 

It does have a slightly awkward layout in one respect as to get to the two lower level rooms you need to walk through an unfinished part of the basement.

Of course if you truly want to stay anonymous, you could always hire a property manager and play dumb - or just do everything via mail  - but at some point in time - you may be forced to show your hand and it might be a little awkward - good luck - keep us posted on how it goes for you!

It's so awkward, especially when the banks get involved.My wife and I will be running a business from the land, a home day-care.

. ** Edit: Your CPA is not necessarily a bad CPA- it's just that as someone who is surrounded by them all day....I can tell you that many are kind of awkward and not always excellent communicators.

Even if you did know what you paid for the rental, how do you know $500/month in "gross cash flow" (that term is awkward, btw) is good?