Your attorney or tax specialist should have the expertise to assist you in preparing the operating agreement correctly.If you are not self-employed I would encourage you to do so immediately.With self-employment you have immediate legal tax benefits for personal income retention just like Warren Buffett.To Your Successful Investing.It is a Terrific Day!!

@David Wandel  Wow, that is really encouraging, thank you for sharing.

@Ryan Blake Thank you for the encouragement and advice.

If you are looking to buy in KC, and you are not from KC, or even if you are a local who doesn't know a certain pocket inside and out -  I highly encourage you to get a 3rd party to help you evaluate the "deals" you are about to marry yourself to.  

Thanks Kurt and Chris -- really wanted to do something other than RUBS since I don't think it encourages tenants to conserve and can end up being unfair to some tenants who are but if that's the only option then that'll have to be what I do.  

You've learned a lot here but, as a coach, I encourage you to move on to something far easier.

Very encouraging for new BRRRRers!

All the words of encouragement are really gracious, and helpful.

Thanks for the kind words and encouragement, everyone! 

We gave him until September 17th to move out and we would forgive the outstanding rent (to encourage him to move).