Lastly, try to think of different ways you can add value to that person.

But, you can't determine quality by simply what they charge.....as there are plenty of terrible agents who also charge a lot.You'll need to determine what value they bring to you personally and do a cost benefit analysis of whether the cost is worth it to you or not.

How should I set up my business structure so that income from my rentals doesn’t increase my personal income reported to the IRS?

We have done 600+ loans and like you mention know the numbers.Regarding people getting wiped out, every person has a story.

Next time you talk to the renter that's paying late all the time, Maybe mentioned to him or her without getting too involved in their personal life, they should seek out a temporary job a few hours, a couple of days a week until they build up enough to get caught up on the rent, and make a little pool of money to use so they don't get behind again.Some Temporary jobs can be fun, like handing out rubber id bracelets at functions to the participants, or if the person is more blue collar they have jobs for those people too more suited to their tastes. just my 2 cents.

So desirable in fact that an agent fro Ryan Serhant's office personally flew down to check it out and make an offer.

Nearly all of my incoming vacation rental investors in Colorado have dual goals -- to have an investment property in Colorado and also to use it for personal use.

@Raeshelle Cooke I think you can take out a business loan since it does not post in your personal credit.

Going forward with the business, aim to never use your personal credit, but aim to use business credit. 

I haven't personally house hacked a room, but I do know some people who have.