Hi @Mark S. each fund is different in structure, some are preferred return only, some are profit split, some are a hybrid, some are debt only, depends on the fund and the sponsor.

So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip. 

If not, then you really need a strong legal structure stating how these properties will be governed going forward, including management, tenant selection, capital expenses, etc.

If you need an attorney group to help you structure the right entities for you, we use and highly recommend, Anderson Business Advisors who made the video I have linked above.As for the pet question, all the stats listed above are why we allow pets unless a homeowner insists a no pet policy.

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

Rental income and expenses, such as mortgage interest, property taxes, repairs, and depreciation, can be reported on Schedule E of your personal tax return, regardless of ownership structure. 

Now, let's adjust structure type as that alone will get some really good focus right.

Entitlement is the process of getting municipality authorization  to build a specific  structure  on a specific peace of land for a particular  reason. 

Quote from @Nathan Gesner: Unkempt lawns, trashy or broken down vehicles, mattresses and trash on empty lots, boarded up houses, bars on windows, dealers and hookers on the corners, the lack of stores or gas stations, occupied properties are dilapidated, etc.Or when Google maps shows stuff like this: If those are drug zombies, as they appear to be, that's an "F" class neighborhood where nobody pays rent and structure burnouts are common.

What does it tell you when a city can't afford to put a few structures with colorful lights for the holidays?