I have reached out to several management companies who deal in some (or all) of those states.I don’t think there is necessarily a right or wrong answer to this question, just a personal preference.

In those instances where you are asking the investor to take on most, or all, of the financial risk, the investor should get the bigger piece of the reward.Case in point, if you plan to use the investors money to acquire and renovate the property, you need to be transparent with the investor on the breakout of purchase and renovation costs, along with any margin you've baked into the front end.  

Has anyone tried turbo tax to handle their rental property and thought it was inadequate?

If you can eliminate some or all of your housing costs, you can really ramp up your savings.  

I have found a few potential candidates and am planning to put an offer in this weekend on one, or all, of them. 

I don't know the rest of you situation, but you would be able to take some or all off your taxes.7.  

The Parties acknowledge and agree that neither the Buyers, or Sellers, nor their respective Brokers/Agentshave any agreements written or oral that will permit the Seller or the Seller’s family member to remain in theproperty as renters or regain ownership of said property at any time after the execution of the Short Saletransaction.

under a month to month, oral lease, rent is usually assumed due on the 1st, unless they prove previous rent payments were accepted on a different date, i.e. every check is given on the 15th.

If you need money for buy-and-hold, here are your options:- You bring the cash- You get a conventional loan and you bring any down-payment and rehab costs- You get a portfolio loan and you bring any down-payment (and potentially rehab costs)- You find private money and you bring whatever amount you can't raise- You find a partner and you bring whatever amount the partnership agrees upon- You get the seller to hold back a note on portion or all of the purchase price -- you bring whatever amount the seller requires as down-payment and the rehab costsThose are pretty much the options. 

I usually make a few steps 1. by agreement of the members (majority, 75% or all) and former partner 2. if no agreement then hire an appraiser mutually agreed upon to establish value 3. if no agreement then hire two appraisers to reach agreement or take average of their #s.  4. no agreement- the appraisers hire a 3rd appraiser whose valuation is final.