We finally got him paying proactively, electronically.

The BRRRR method is designed to help investors limit/reduce their out of pocket expense. 

If it's sitting in a business account can colleges look at that money as accessible cash a college might see as accessible money which in turn would reduce college grant money allowed. 

We are not in any rush (we have until August) and are willing to wait until the spring market brings more inventory but we would like to get an edge on the competition and be proactive if possible.

Cutting your top-line income will cut your bottom-line profit by a disproportionate amount, i.e. if you reduce your rent from $650 per door to $550 per door, that means your top-line goes down to $1100 and your bottom line goes from $350 to $150. 

If you can't sell it within a few days to solid buyers then your price is probably too high and you can reduce it. 

I started a website laying out my systems hoping to pay it forward so those could learn from my  mistakes and not experience the same thing.I have found that "really" treating the houses like a  business with a 14 page lease and being super specifics has reduced a lot of problems.

If you didn't have a partner, i would suggest to definitely apply your commission directly to the deal by reducing the proceeds to the seller.

This will reduce your rental income and may even generate a rental loss.The article below provides a good overview.http://www.nolo.com/legal-encyclopedia/tax-issues-when-renting-out-room-your-house.htmlCongrats on the first property!

If the value is more than that, the excess reduces your parents lifetime gift limit.