The Chicago building practically runs itself with tenants on autopay. 

It's good practice to let the tenants know you will be working on the common areas so they don't think it's a complete stranger or someone spying on them.

I’m particularly interested in house hacking as my first strategy.I’d love to understand more about what to look for in strong investment markets, practical tips for house hacking, and the financing options available for first-time buyers.

@Chris Henry By property is best practice.

They also shared templates that you can use to analyze deals, checklists for closing on a deal, and more practical templates.

So this is a very common business practice across multiple professions associated with the construction. 

Here are some practical steps you can take:First, make sure you have a clear and comprehensive written agreement.

Unless you find an attorney that exclusively practices in this area, they won't have that level of knowledge.  

.- Insights on the best practices for structuring these entities for optimal asset protection and tax efficiency.- Any potential pitfalls to watch out for during this process.If anyone has navigated a similar setup or has referrals to professionals who can help, I would be extremely grateful for your input!

And practically, you can keep more of your money.