My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.

We use efroms.com for our rental application.

There are a lot of affordable properties in Knoxville, but the growth isn't terribly vibrant and the deman isn't what you'd expect for a city of that size and that close to the Smokies - you're mostly looking at college rentals for the meat of the move season, and the SF market, while it exists, doesn't really compare to Chattanooga. 

Prior to my clients' closings (rental properties in 2 states) in the last 6 months, I worked with IPX to prepare for DST investments.

Verifying last 2 years of rental history very important!

Do a bit of digging, and you can find single-families in suburbs like Decatur or Meridianville that appreciate at rates above the statewide and nationwide average and hit the 1% rule at the same time.One caveat, though, is that most rentals in Huntsville proper probably aren’t going to deliver the cash flow you’re looking for.

Quote from @Jules Aton: When I did a seller finance deal years ago on what would become a long term rental I bankrolled the rehab funds then re-financed when it was finished.

(assuming rates are where they are today and rental prices increase during that time)Now, this may not need to be a 5 year lease.

I think I can open another personal checking account at the bank I already have and it'll be under my name but i'm trying to buy out of state rentals with an LLC I own.

I think most people would agree that a single family home is better than a condo for a long term rental.