If so, how much should we consider, like do we need to calculate by their salaries by hour or how much day/hours spending so they will be deducted from the rent? 

I would use current interest rates and terms for your refinancing calculations in case rates do not decrease.

Eventually their rentals will start to turn a taxable profit and those losses can be “unsuspended”.  

Would sec 8 decrease the rent to the calculated fair market value of rent or at worst case scenario remain the same and sec 8 decline the increase?

Take calculated risks, learn from experiences, and build a strong support network for success in the journey.Good luck!

Broker commissions are generally calculated based on the base rent.Ex: $12,000/yr in base rent x 5 year lease = $60,000 -- $60,000 x 5% commission

BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy.

That sucks.In general, I would think converting shares to a promissory note would not be a taxable event, but if the note never gets paid back, the note default would certainly be a taxable loss.On the other hand, you have probably taken depreciation.  

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Calculated risks.