Depends on your local rules and regulations, but in the state of Virginia such a practice is perfectly lawful.PS: Do not take model legal language and incorporate it into your contract unless such language comes from an attorney. 

Thank you for your time and expertise!

@James Ohliger what an owner is really doing when hiring a PMC is buying their expertise and time.You can think of expertise cost as a relatively fixed cost.

There were a few important tactical and operational details in the single family business model that I either did not know or overlooked.

Re modelled almost the entire house before we moved in. 

If you are interested in the underwriting process and financial model for multifamily, I recently published an article on LinkedIn that breaks down the end-to-end process that we follow to determine the purchase price range for properties.  

But if those are already active MTR-able units then your set-up model isn't really relevant to that group, right?

STRs are popular in this city as they create significant amounts of jobs and revenue.I am shocked that this model is not more popular around the country.

While any real estate CPA can assist, a California-based CPA may offer expertise in state tax laws relevant to your situation.

Fantastic summary, Dan Mahoney I am a real estate lawyer and tax deeds just happen to be my area of expertise, and I can say your info is spot on.Have any of you purchased Georgia tax deeds?