You can funnel your commissions through the S-Corp and save on the payroll taxes.

Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

@Marcus Auerbach in your experience does the city usually require sophisticated drawings for those conversations or can I bring my rudimentary drawings to the discussion?

She pays that rent "on time" but it is a payroll deduct, so it would be hard/impossible to pay it late.She is very interested, and paid the $39 background fee check, so I want to work with her, but don't want to take on a completely stupid risk.

You need to decide what you want your website to be, a sophisticated website with well detailed information and nice design, or a simple website that is really just there for information gather from buyers and sellers.

Payroll, bookkeeping, etc can mostly be done remotely.Here is a great list of questions to ask a potential accountant:http://www.biggerpockets.com/forums/51/topics/70447-questions-to-ask-a-cpaAlso check out the www.NAEA.org page in your search.

I was informed that some creditors with less-sophisticated credit analysis systems might not see what is going on.

You could take a loan from a 401k which you'd typically pay back through payroll deductions over a set amount of time (loan to yourself).

The investors should be a "sophisticated investor" to invest in the deal.

SellerTest SellerBuyer InvestorPurchase Price:$70,000 Cap Rate:6.00%Down Pmt Avail:$9,800 MTG Bal:$60,200 Mtg Rate:10.00%MTG Pmt:$500 Number ofRent perTotal RentUnitsMonthPer Type11$450.00 $450.00 21$450.00 $450.00 30$0.00 $0.00 40$0.00 $0.00 Total MnthlyTotal AnnualTotalsRentRent2$900.00 $10,800.00 Potential Gross Income (PGI)$10,800.00 Other IncomeType of Inc:$0.00 $0.00 Vacancy Rate20% of PGI($2,160.00)--------------------Effective Gross Income (EGI)$8,640.00 FIXED EXPENSES:MonthlyInsurance$50.00 $600.00 Trash pickup$0.00 Property & Other Tax$91.00 $1,092.00 Commissions/Payroll$0.00 VARIABLE EXPENSES:Lawn $5.00 $60.00 Misc Exp$90.00 $1,080.00 Supplies/Maint$25.00 $300.00 ____________Net Operating Income Before Debt Svc (NOI)$5,508.00 Debt Service at$500 Monthly Payment$6,000.00 Cash Throwoff (CTO)($492.00)Int portion of Debt Svc$60,200 X10.00%(Annual)$6,020.00 Equity part of Debt Svc(Annual)($20.00)________________________________________________Investors Value of CTO at6.00% (CTO / Investor Rate)($8,200.00)Add Mortgage Balance$60,200.00 Value of Equity at6.00% (Equity / Investor Rate)($333.33)Value at Desired Cap Rate10.00%---->>$51,666.67 Sale Price vs Analysis:$70,000 Difference:($18,333.33)Debt Svc Coverage Ratio (DSCR)1.19***** FIGURES ARE APPROXIMATE, NONE ARE GUARANTEED OR WARRANTED *****I will share my APOD