Your Schedule C at the top will typically list both of you since you are filing a joint return.

With running this "business" there will be operational input costs.

In that case you will need to analyze the comps, and keep in mind operating two units on one property can bring other costs and operational issues.2.

Park Hill Golf Course was owned by a trust, in the wayyy distant past it was previously a dairy farm, but it has been operated as a golf course since the 1930's!

Here's some basic copy & paste info that may help you make better investing decisions:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

- A 0% down, seller financed deal, typically equates to little to negative cashflow!

It is a great deal for the silent investor as they typically make 50% - 100% COC in less than a year.

As@Chris Seveney suggested, being a private money lender can be pretty passive once you find the operator and asset you feel comfortable with.

Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside. 

How about using SDIRAs not to hold assets but to operate businesses?