- Usually a 5 unit with a boiler means that all the units share the boiler heating system.Which specific utilities in which units are paid by tenants vs shared?

Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.  

Just unlikely you'll allocate all the money as a HML without a super strong network which may be unlikelier than all deals being properly paid on time.You'll need to invest $8million gross, at 10% gross returns to make $40k/mo net.

If I were in their shoes, I would prefer you pay me directly for control the money used for care and other expenses.

There have been numerous people on BP talking about how they paid application fees but they could never get their loans closed on any deal brought to the company.

You live in one room, rent out the others, and pay your expenses with the income.

They are expensive, but that keeps only the serious players coming back.

In my case, I will transfer the deed to the LLC, and have a business bank account under the LLC, and all the rental/expense will be using that business bank account.

These will be more expensive projects, but the house would be greatly updated and more appealing.2.

Hard money is short term and expensive.