And of course other states are following suit.. 

The populations of once small town just outside of town are booming.

I just purchased a duplex and it is listed under a single address.

But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

For a bit of context, my wife and I recently moved to Tennessee and after renting for a bit we are just about to close on our first property.

IE they just work in the NPN space and try to work the notes and ending up owning probably happens maybe not the majority of the time but quite often..

Don't you put the sellers and the buyers on your own marketing lists?

But at the same time I can get access to my money the moment I need it for purchase of property.

A good tax professional won't just put a number on a line because you told them to; but if they're reporting something differently for a valid legal reason a good tax professional should also be able to explain to you exactly why. 

The balanced owed on the property is about 97K.