I am thinking the BRRRR method for buy and hold properties outlined by @Brandon Turner makes the most sense for us. 

@Clay Smith I'll preface my post by saying - sweet job outlining everything.

In my experience it costs between $1500-$2000 to do the work outlined in your original post.

I'm trying to grow the real estate portfolio slow and steady and then eventually exit the corporate world to do real estate investing full time.I have not outlined the strategy/business model yet but am getting the ball rolling.  

In addition to serving legal notice to "pay rent or quit", make an appointment to meet with the group, review the terms of the rental agreement, and outline next steps. 

Without seeing the full and complete lease agreement, I'd bet you are prohibited by the property owner from subletting and you'd have to gain approval of the owner to add new tenants as, outlined in the lease. 

I want to buy and flip vacant lots using the methods outlined in Podcast 39.

It typically outlines what countries gets to tax the income depending on the source. 

No, it can't be done the way you've outlined.

There are ways to minimize your Self Employment Taxes, and you should speak with a competent CPA to outline the other aspects of your life so that they can make a good recommendation for you.Please note that there is no one cookie cutter approach to this.