Oakland adopted new regulations for secondary units a few months ago and the unit I had planned would have met the requirements.

Understand that dealing in real estate, that is fairly well regulated and carries compliance requirements which are not areas to be ignored or assumed.

Are their ongoing discussions in the town regarding implementing such regulations. 

Plus having a license from the FL Department of Professional Regulation. 

By understanding the policies and regulation, starting where you are now, you can develop wealth. 

I can most certainly perform all of the "clean up" that an abatement company would, without being regulated by the state, for a 10th of the price.

You should check your local regulations to make sure you can have that many unrelated people living in one dwelling.

The information you need should be available on line, All state/city landlord tenant regulations and codes should be readily available with a simple search.You need to know all the codes governing your business so you may as well start studying now.

That has both pro & con issues associated with it, including over regulation and high taxes (for everything).

@Eric TomlinI agree about not using an LLC unless you are also looking for liability protection.As far as IRA custodian to use, hands down IRA Services Trust Company as they have been in business since 1978 so have had decades to be tested by regulators whereas many others have maybe been in business much less.