We face a dilemma as we embark on this venture with a clear business perspective, committed to implementing best practices in property management from the start, including engaging professional property managers.

To ensure clarity and security, I will include the following language: “The sale of this property is contingent upon the current occupant vacating within 14 days of the ratified agreement.

@Craig J Chelette it's hard but not impossible :) I just closed on a duplex in June for 300k (in Provo) , put 10% down with no PMI.mortgage, taxes and insurance $16073% vacancy (vacancy is almost nonexistent in Provo but I wanted to be conservative) $695% repairs (bought the home with everything remodeled) $1158% cap ex $184I did not include PM because I will be managing it myself BUT every property from here on out that I analyze will include 9% PM.$50 other expenses (google fiber)gross monthly rent $2300 (1400 up and 900 down)cash flow $274.39 with a CoC return of 9.27%My realtor found it on KSL - it wasn't even listed on the MLS.  

As part of my current situation, a nice lead generating platform is included in my MLS dues so I would like to keep that. 

I reside in Minnesota, and do not see anything that prohibits from having tenants sign an addendum but maybe some people can weigh in on this and if its a good idea to include or not?

It's full of practical advice on how to manage an investment, and it includes summaries of your specific state laws, and it tells you exactly where to go to read the law for yourself.Devour the book.

Hey William,Welcome to the community.

This was for all K-12 schools in the state, including charter schools.  

Rental income finances everything in all of them including all the custom upgrades and upkeep done mostly by hired hands.

All interaction with tenants (including paying rents) and paying of contractors would be taken care of by the S-corp.