Rental arbitrage isn’t common in my area ( high point North Carolina) but I was planning on starting in another state.

My business partner owns a roofing company but has weak credit and more limited cash flow.An LLC is a common choice for partnerships since it protects personal assets and simplifies tax management.

It also addresses a common misconception.

Then based on @Michael Baum's suggestion, I think I will have my cleaner and/or maintenance person do monthly/quarterly maintenance like using using enzyme based cleaners, grease fighting drain treatments and hot water flushing. 

And plenty of people wholesale mls all the time and get deals it's actually quite common.

@Grant Shipman, I will say, I have not explicitly seen anyone violate these rules (that I know of), but more commonly there are a lot of people who have comfort operating at the margins.I.e. compliance officers/attorneys that stop at the letter of the law may say: "investment manager X, you can advertise your company all you want.  

Most common scenario I see is "should I sell?"

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

@Daniel Tanasa house hacking looks to be the common suggestion, thanks Daniel 

Dealing with RejectionRejection is common in real estate, whether it’s lost listings or clients choosing another agent.