Always make note of the all the cool stuff when you see properties as often you can get a lot of great stuff included and make the deal fly too!

I have a couple unique and very cool situations, additional, so I want to make sure everything is aligned right regarding taxes with business structure. 

I personally keep my thermostat at 67, but in the middle of the winter here, it’s not uncommon to see someone with their door open to cool the place down.

But when I say full gut and rehab I'm talking: taring everything down to the studs, updating plumbing and electrical throughout, probably upgrading the panel, adding duct work for heating and cooling, new mechanicals (boiler, A/C, etc) , hardwood floors, new kitchen, new dry wall and insulation, paint, finish work, etc.

One point that I have not seen mentioned is the ongoing CAPEX / Reserve allocation; Common area upgrades / refinishing, Roof, Cooling Towers, Boilers, etc, etc. all have to be done at some point as you know from your residential experience.

But lets face it , in America its cool to "rescue" pets now a days and esp pits.So you know these young couples are gonna be into that... 

Not cool.

I think it's a cool idea but I would charge a "per property" fee rather than a "per month" fee.This way it opens you up to owner-occupants and primary residences as well as investors.

cool.

Assuming we’re cool with this new person, what does the paperwork look like?