Speak, to several such firms and you will quickly sort them out.

In any event, most properties will still have some sort of mortgage on them and that is ok. 

I don't have a cma or anyone of the sort to ask or draw out a contract and wanted to know how can I draw out my own contract and what validates the contract to hold up if action is to be taken against the contract?

I thought I would give you guys another update about the depreciation thing:  my accountant has essentially advised that we should not depreciate 100% of the purchase based on the the following logic:"As long as you pay the nominal ground rent, the ground rent owner can't sell the land, so I think that land still has value and there should be some sort of allocation to it.

Most HOAs have some sort of recourse clause for something like this, but you may have to get creative in your interpretation.

It is also great that your wife is into real estate investing.Y'all ought to form some sort of corporation or an LLC after you get some professional help from a CPA and\or an Attorney.  

This is usually a scam of some sort or they annihilate your profits on the back end.  

i got into my first rental via a house hack of sorts... i purchased the townhouse and lived in it for 5 years.  

am just up the road from you  ok a few hrs and wold love to connect with a fellow Canadian  have helped many get sorted and started in the states.. fell free to call any time

I have a couple of weeks to sort that out.