It's not only inspiring to see what is being done but also opening my mind to how I could make a business plan that incorporates both sides.

In my scenario the  "hard money lender" are the friends and family you want to incorporate into your your financing. you can avoid paying a ridiculous monthly rate through negotiating your terms. rather than pay them like 16 percent every month on the money they invested; pay them 20 percent at closing. 

There is no timing to the income-expense cycle incorporated. 

Depending on the scale of your investments and future plans, it's worth doing a bit of research on the best state to incorporate in.

You can't just ignore the parts of my post that don't fit your narrative...To quote part of what I wrote above:"Do I always operate my business that way?

It seems like the standard answer in CA now, especially in corporate-owned apt complexes is "If they qualified again, we would rent to them," when you ask if they're rent to them again.Well, duh.What a worthless answer. 

Mine incorporate them all.

Have the salesman show you a few models, how they work, what safety measures are incorporated, etc.In any casing, be sure to let the rest of us know the outcome of what you decide to do.Here's to continued success downrange!

Aaron, Nevada is a great state to incorporate in. 

Even if the tenant causes the leak, I'm not sure who the burden of proof would fall upon, how the narratives would play out b/c you know it's going to be on the 6 o'clock news, etc., etc.