I brought my friend along and he devised a few strategies to employ with the property.

I'd recommend a "Templates Folder" that has templates for common used docs like leases, notices, advertisements for properties.I actually just did full video on my Google Drive set up over on my YouTube channel :)

@Aus Smith if there is base rent and then an extra fee the resident pays for a common utility, we count that as revenue towards a percentage-based management fee. 

After reading this thread, a few comments come to mind over this common A or B decision.Without knowing how much it is (no need to say) makes my advice (or more accurately, my opinion) more general in nature but here it goes:Lending has very little to no tax shelters whereas buy and hold does.

I have done a few projects  in N> CA were we did Mello Roos.. and a few with plane ole 1915 act bonds.. its just a common way to develop in CA..

Immediately before closing the sale dissolve the LLC and distribute the property to the former members so they are all tenants in common. 

As a self-employed 1099 individual, your best route is most likely DSCR.

Actually more becuase now you are self-employed and have all of those pesky overhead costs. 

Not always, but very common. $550  / mth * 8 unit = $4,400 * 12 mths = $ 52,800 GRI  ****not $53,800****The formula for CAP = NOI/PriceNOI = [GRI - V&C loss + OI] - EXP  *****You did not subtract for expenses to arrive at NOI nor include a vacancy and collection factor****Assuming expenses are 50% and 100% occupancy (which 100% occ is not realistic all the time).

Sometimes large employers will rent furnished apartments for their employees coming to town on a regular basis.Also, if you believe strongly in the appreciation of the house, how bad would the negative cash flow be if you did long term rental?