These people are living comfortable where they are now but not for long with SCI's practices to just make a quick buck.

You didn't mention what kind of law you're practicing. 

Specifically, I’d love to hear about best practices for managing shared spaces, screening tenants, and setting up house rules.Additionally, I plan to split the utilities among the tenants—any advice on how to handle this efficiently would be greatly appreciated!

I know a lot about the industry through my education, but have very little/no practical experience when it comes to managing investment properties. 

Quote from @Mikal Toliver: It’s an exciting time go learn, understand, and practice real estate estate investing.

If you have multiple LLCs, best practice would be having a Plus subscription.  

Seems like a good idea in theory maybe not in practice. 

To live multiple states away and run a string of successful C-class long-distance BRRRRs anywhere in the Rust Belt is practically impossible.

I definitely understand everyone else's practical advice regarding "lifestyle investments" but also think there is something to be said about following what lights a fire for you! 

@Cody Baum - Can you become an investor focused agent and get practice in real estate without it being your own money?