You paid $60k out of pocket for the privilege of subsidizing your new tenants rent to the tune of $300+ per month.

You can also set up a virtual office, mail forwarding, phone and even have your incoming communications go through an Attorney so you have attorney client privilege. 

@Kristen Ray, there are a couple of red flags here:1) Due diligence is such a key part of the success of any deal that it just doesn’t make sense to outsource any part of it to someone who is paying for the privilege.

Also, its calculated differently in different areas I would contact an appraiser and find out how its done in your area.2) Holding costs those insidious costs that will rack up just for the "privilege" of flipping a home.

Here all NG suppliers charge $40-45 for the privilege of having service.

I have had a student housing rental over there for 10 years and I get a Business privileged tax form each year from the city.

If it is treated as a partnership, you would generally file AL Form 65.Alabama also has other forms & obligations, particularly the business privilege tax depending on your facts and circumstances. 

Instead, talk to your landlord, ask him if you can sublet you place after you move out, or even pay an extra $50-$100 per month for the privilege of going month to month.

As a layperson, you are not:"No individual, other than a member, in good standing, of the bar of this commonwealth shall practice law, or, by word, sign, letter, advertisement or otherwise, hold himself out as authorized, entitled, competent, qualified or able to practice law; provided, that a member of the bar, in good standing, of any other state may appear, by permission of the court, as attorney or counselor, in any case pending therein, if such other state grants like privileges to members of the bar, in good standing, of this commonwealth." 

Even a blind monkey could see that.The tax code deeply privileges people with money and flexibility, money to hire accountants and tax strategists, and flexibility to structure their lives."