If you have a chunk of money to get going I'd personally buy the biggest thing you can if you don't I think house hacking into a 4 plex is great. 

Maybe you change it to a 12 month lease at $x or MTM at $x plus more money.

That likely means that they are not good with money management which you are likely expecting from him.To answer your question, if you are doing long-term rentals, the LLC taxed as a partnership is likely the go to route.Best of luck.  

.- i question your underwriting and ability to make money on a $79k purchase with $12k rehab.  

Most of them that are successful like a Tony Robbins etc they make HUGE Money Millions upon Millions with their training and backing certain products..

They would be putting in some money and their service as sweat equity, and we would be putting up money and my wife’s services. 

Again, the idea there is farmhands [in general and past] tend to not make lots of money.

We are also reviewing a company that can use it to scan bank statements and tax retturns to quickly sort where money is spent and if documents are fraudulent.

I personally used business credit cards to BRRRR a deal—no money came out of my pocket.

The benefit to the seller is that they don't receive all of their capital gains in the first year, but they will pay as they receive their money.