So instead of always pushing max rents, I've seeing things pan out better when you just get good tenants in your properties and try and get them to stay.  

I had previously posted the property for rent, showed it and screened the tenants.  

If the tenant stays, they will be on a month-to-month lease, which requires a 30-day notice.

Or are you planning to put 100% of the risk/cost of vacancies, furnishings and tenant nonpayment on the owner with you having 0% risk?

I've also seen it where legal counsel has had each of the spouses form their own single member LLC and those LLCs purchase the new property as tenants in common.Food for thought - You'll almost always get a better interest rate and terms buying as yourselves. 

We had our systems so dialed in that during the busy season, we averaged just 4–5 days of vacancy between tenants while turning 10–15 units a week!

As you look to scale, just make sure to hold/build reserves for when repairs come up and take your time screening tenants as you will find a vacant unit is much less stressful than dealing with a bad tenant.

So we don't even have an approved inspection much less a lease with this potential tenant.

I suspect maybe something like Hagerstown or Cumberland, which yeah are Class D like markets with declining populations, high drug problems, no strong job base which leads to non paying tenants.

Make no mistake it isn’t quick or especially comfortable but it can definitely be profitable.As for the rent a room thing in most locales I have to wonder if the additional rent is worth the hassles of dealing with the increased time and liability of multiple tenants in one property but that’s a totally different conversation.