I've heard more lenders having issues lately with this "dual layer", even though the standard family trust and its individual settlors are usually the same for liability, credit, and tax purposes. 

Renovating everything, floors, bathrooms bringing it up to the new living standard.

As far as the practicality, you want to look for homes with somewhat separate spaces, and theres an app now called padsplit that I've not used but have heard good things about to help with the management nuance of it.  

Its less a niche than it is a standard business.  

If there's something in the book you really want to learn, you will need to practice it over and over again until it sticks.

I am also becoming an agent soon and it is an illegal practice of law to draft a lease agreement as an agent and one could loose their license.

I'm particularly interested in understanding:- Key renovation aspects that meet Section 8 standards- Common pitfalls to avoid in the process- Any specific features or improvements that are highly recommended to facilitate a smooth inspection and tenant satisfactionAny advice or a checklist you wish you had when you started would be super helpful.Thanks a lot! 

Standard term lease for minimum required by HOA (usually 6 or 12 months) with a separate agreement that lease can be determined by tenant after certain amount of time. 

Appreciate hearing your perspective, always interesting to see how different strategies work in practice!

Hey @Keith Mintz, this was the standard AirBNB model when they started.It isn't something I am interested in, but if you do a search, you can find more info.