I am working with investors in the area and assist with professional tenant placement services: marketing, advertising, showings, tenant screening, income verification, move-in inspection, and tenant coordination, I cover it all. 

I'm currently house hacking and trying to get my first non-owner occupied rental.

Thanks Nathan, I've began looking at non section 8 tenants and am finding great options!

For example you hold on to the land while they get plans approved and they pay a premium with a non-refundable deposit.

@Ben GleasonNotice of non-renewal.

Regardless, you will likely be adjusting the expense base to reflect the tax reassessment (which you can obtain from the local county), insurance (from your insurance broker quote), property management fee, and usual repair/maintenance expenses/admin/advertising/contract services/utilities.

You can simply convert passive income to non-passive via Sch C via management fees and use Sch C to fund the 401k.

However I feel the PM should have notified me early on about the complaints from tenants and non-receipt of rents from the housing authority (it is still a mystery on why the rents have not been received). 

Most architects (and Contractors) do not like to follow up on their colleagues work.My first thought though was that you should go after the Contractor (and possibly the Architect) for non-performance.

Especially if you’re making decision with huge financial decisions based on the words of non-expert strangers on a free website.