In that case I write off the lost rent as cost of doing business, but I prefer that to the expense and hassle of an eviction, which typically ends up costing us more and takes longer, even though Milwaukee is still pretty landlord-friendly.I have also done cash for keys, but typically very conditional. 

For example, if a property is clearly a rental, does that typically have a higher chance of success?

Typically looking for max ARV at or below 65%

There is a "sponsor exemption" but that only allows an unlicensed person to raise money but it cannot be more than 50% of their duties and the pay they receive cannot be based on how much they raised.If you have never raised $, a family office will be off the table as they typically want the company to ahve atleast $50-$100M in assets. 

I utilize a PO Box as well.It wouldn't be hard for our tenants to find out where we live (tax assessor's online tool) ~ But for $50/yearly ... it gives me a bit more piece of mind :)

Make sure the units are fully furnished with all the basics, and consider including utilities, Wi-Fi, and flexible leases to make them more appealing.

I typically will book tax entries as an accrual so that they don't affect the operational accounting.My reports do not tie exactly to my tax return as there are temporary and permanent differences between tax books and accounting books.

As along as you take the lessons from this and utilize it on your next deals (yes, plural) you'll make great progress!

If you are buying in a LLC there is typically a loan agreement and personal guarantee that is common

Just a case in point, the tiny apartment I live in (800 square feet) the mortgage payment is about 4000 per month, and the typical rent for such a place would probably be somewhere between 1500 to 2000 per month.