Running it all through your own bank account or as a natural person is fine, but then how you treat your business expenses as a reduction of your income will matter.

If you paint over it and someone ends up having respiratory problems, and then finds out there was mold in the house and you didn't investigate it and treat it properly, you can be sued.

,Something my father and grandfather always taught me is you will less likely be sued if you treat people with respect, understanding, honestly, and within the law.

I treat my tenants well and some of them would give me a great reference.

When doing lease options you have to treat it like your purchasing the house.

Are you completely removed from the day to day decisions and just treating it as a monetary investment?

What does IRs require to qualify to be treated as 501 C3 ?

Animal control might be the way to go, if the dog is unlicensed, or if the dog is being treated abusively.

In that structure you could take investors on with equity shares in the company or issue notes and treat them like debt.

Treat it as it is, a family owned property and not a rental.