We were both born/raised in the area and my family still lives there so long term we will eventually move back ourselves. 2.

We secured a 200k USD senior debt position which allows us to avoid raising so much equity.

You want a strong foundation that is compounding, not a house of cards with no base.2.

They leave, you raise rents and on it goes.

That is part of the situation where house hacking isn’t exactly in the cards at the moment.

Insurance, bank accounts, credit cards, etc.You are probably making your life more complicated and expensive than it needs to be.

I might stay away from self managing in my first deal and rather focus on raising funds and managing the investment. 

Longevity of the Scheme: According to Marco Santarelli, the Founder and CEO of both Norada Capital Management and Norada Real Estate Investment, the company began raising investor funds through promissory notes as early as 2012.2.

Does paying with credit card, venmo, paypal etc.......still allow you to NOT SEND 1099s?

Makes it easy to keep the cash organized as well as bills.You don't need a credit card but debit cards for each place makes it easy.