We are being conservative to start, but we both acknowledge that if we play our cards right, this could be a very reliable way to build cashflow and wealth.We are having a lot of fun setting up our "official" business and are looking to focus on high-quality, newer built condos "niche" (with higher rents and lower maintenance costs) which seem to be renting very well here in the northern suburbs of Detroit.I'm really enjoying reading the forums here and the BP community seems like an excellent group of friendly, motivated, and experienced people that love what they do and enjoy sharing with everyone else.

You acknowledge that the Dwelling is in good order and repair, unless otherwise indicated in this lease.

I'd check with your CPA, but since the IRS doesn't acknowledge the existence of the sub LLCs except in very limited circumstances (excise taxes, employer withholdings), you would aggregate the legal fees and the holding LLC would issues a single 1099-MIS for $600.00

It is also a way to acknowledge other peoples contributions to a topic.

Does signing acknowledge anything?

Have them sign a document acknowledging this, and give them an example invoice (if you have one to share).The best way to deal with a contractor that can't invoice is to not deal with them at all. 

I do acknowledge that 1 story houses are best since some of the residents might have issues going up the stairs but I was asking to see if 2-story houses are possible - not many 1 story houses available in Vancouver WA. 

I have detached single family rentals, and it's in lease that tenant acknowledges they are receiving unit in clean condition with all systems operational and no sign of pests, mold or mildew.  

They aren't representing you very well because they want a deal to close instead of acknowledging your strategy. 

But I have never made the sellers sign a separate agreement acknowledging it.