But that firm or person cannot be the first person ever think about doing it that way, and if no one does it than I can only guess it is for a reason (eg, here you are posting on BP that you dislike the transparency and would prefer the wool over your eyes and a higher rate).

@Duncan Cotton Most of my properties are around Churchill Downs.

They either aren't familiar with partnership tax law or there are more nefarious reasons...like trying to pull the wool over your eyes because they're financially incentivized to do that.That would be a non-starter for me.Pros on this board are telling you that you probably don't have a federal obligation, but more than likely have a CA obligation for 2018.

The right way to do rental arbitrage is partner with landlords, not pull the wool over their eyes. your landlords should be well aware of what your doing, and be ok with it.

As long as they figure you are not pulling the wool over their eyes they can be very helpful.

This seems to me a case of him trying to "pull the wool over my eyes" and take advantage of me.

In my experience, you normally don't have to wall it off unless it's in a sleeping area.If they do require something, the inspector can usually give you suggestions which may prevent you from getting a contractor that tries to pull the wool over your eyes.

I buy the peppermint oil and pour drops in cotton ball to place in every room.

I am less concerned about the dog than I am tenants trying to pull the wool over my eyes.

There are versions of fire retardant treated wet-packed cellulose and/or rock wool that can be blown into the joist bays ... check for acceptability / availability in your area.If your basement ceiling is not properly fire rated, it should probably be redone and that would be your opportunity to sound proof the assembly as well.