Thank you for the response and the feedback.

Partner 1, who sources deals and manages the business, should receive compensation that reflects the effort and responsibility they take on.

Appreciate your detailed response ! 

While it is most common for SFH lawns to be tenant-responsibility, we are offering a weekly mowing service for $100/mo due to being such a large lot, if applicant/tenant so chooses. 

I have equity in my primary residence and some non retirement savings (but hesitant to dip into that… ) Interested in hearing your responses!!

Adhering to the procedures laid out in the operating agreement is what you rely on to be viewed and treated as a business rather than as an individual.

Conventional mortgages are designed for individuals to purchase homes, not for businesses.

LCC as a basic pass through and limited partnerships depending on equity arrangements and profit share of the parties add that extra level of flexibility and not needing to split potential individual partner costs or liabilities.  

@Greg Moore just seeing this thread and enjoying the responses.

New Jersey doesn't limit rent increases across the board, but individual counties and municipalities appear to have their own laws.