Buy a multi-family with 3.5% down.

Hiring a manager or Pad Split still means you’re in the BUSINESS of running a rooming house. 

Also ask, when you submit the plans does the city give a hard time on all the stuff or just a couple things. 

What the IRS is concerned with is when you are doing a 1031 and want to purchase a property from a related party. 

Definitely a question for a tax attorney/accountant, especially with the dollar amounts involved. 

This topic is a little more difficult.

Over the course of using Bigger Pockets I have had very degrees of opinions on who I should vote for concerning a post.When I first started using Bigger Pockets, I was too naïve to even think of voting for someone that took the time to answer one of my post.  

Quote from @Michael K Gallagher: Quote from @A Rao: I invest in land and have done entitlement/zoning and other DD work successfully for years.A broker called me this morning on a property I have on a busy interesection and has a QSR client who likes the location, but does not want to do a ground lease, only a build to suit. 

There's no real hard and fast way or only 1 way or doing your first 2 points. your subject line suggests you're not looking to go to a large shop like a JLL or a CBRE which honestly I don't blame you those offices are usually pretty bloated.As far as monthly costs, if you are going to individually get a costar or other such license you are probably looking at $500-$1000 a month pretty easy in overhead once you have office dues, mls dues, marketing, etc. 

You maybe be able to manage a house or two from a distance but a house or two will not get you what I think you're looking for!