I am more interested in learning about the best way to collect and report rental income and also learn any key things I need to do in order to make sure that it will count toward my yearly income so that I can qualify for additional loans in the future. 

Sometimes, Additional or accessory  Dwelling Units are allowed but local owner must still occupy the residence.

Additionally, I am a finance and commercial real estate attorney and I'm hoping to have the chance to develop relationships and clients in the Pittsburgh area. 

Those that have housing would not be able to do it as it would be additional income making a paperwork nightmare when the renter paid late or early.

In addition to encouraging you to join TRIG I’d encourage you to also check out the Hampton Roads Landlord Assoc and Rent Ready Norfolk.  

Actually, that extra 800 is post-addition of a bedroom I realize- its now a gross rent of about 6000, which I still think is workable.

Also, we purchased an additional warranty for 3 items, so if any of the 9 items break after the 1 year, it will be covered.

I do some legwork and find out the actual agent XXXX (who is a victim in my assessment of this clusterXXX) and confirm the property is in contract, I get some additional details, and confirm she is not affiliated with Keller Williams *OR* the "as a courtesy we created an account for you" folks.So- to sum up. 

Owning houses or apartments is an excellent part of any investment portfolio and holds an opportunity for a steady stream of income, in addition to a nice profit when you sell.

If anyone can offer some info on how to best structure something like this I would really appreciate it.As additional info, I plan on buying in an LLC with a commercial loan.Thanks in advance!