Ideally, something in the hill country as I live in an Austin suburb.

We recently had a sfh ( 2 bedrooms) available for rent in a good area and slightly below market and we were flooded with calls and e-mails.

@Carmen Ruiz Expected categories of our real estate activities are listed on the Schedule E of a personal tax filing (Form 1040).

Ideally, I would like to split the total revenue 60-40 in my favor because I would be doing all the self management duties of an STR.  

Additionally, they cut a small hole in the fence so SDG&E (the utility company here) can read the meter from the empty lot.

They should be able to talk about some metrics of what makes a good or bad buy, and they should know what their ideal client looks like.  

If you put your money in property, it is all about playing the long game because real estate investment is a smart way to balance your financial portfolio. In general, banking on real estate ensures that your capital...

Not an ideal place to run a business but good luck if you wanna try it!

One thing to note, for tax purposes on a long term rental (you mentioned multi-family buildings), the LLC is discarded for federal taxes and all income and expenses just go on Sch E on your tax return.  

This will be for 1 year while we assess whether to keep him long term or terminate him after the year depending on his performance.By having him pay the full rent on paper, it will be good for the bank when we go to refinance.Question for those with similar experience, is it ideal to keep a guy like this or is it better to start off anew or how will you restructure things?