$540 is not unreasonable for a home of that size and the items you mention.

As mentioned.

As Michael mentioned you just need to respond to the IRS and state this is what you're doing.

What happened with the young couple you mentioned invested with them 

To do this, they have a team consisting of an inspector, a makelaar, and renovation professionals.However, as Ken M. mentioned, having someone trustworthy there to manage everything would also be a key factor.

Not to mention the general PHX market has become expensive and people have already been looking for cost efficient alternatives in the northwest and southeast corners of the valley. 

Plus, like you mentioned, there is the risk of due-on-sale clauses if you move conventional loans into an LLC, so it’s best to plan your financing with that in mind.

That's about what mine cost to set a living trust with the documents you mentioned.

As Nicholas mentioned, house hacking is a great way to dive into investing.

Now that we are 10 days from closing, I am talking to loan officer to get the Closing Disclosure so that I can know the exact cash to close (I need to move money from brokerage to bank account) and he is mentioning about 2% IPC limit.