MTR was our initial strategy, but Furnished Finder has been a bust for us (renting individual rooms in Memphis, TN).

Ultimately, the decision comes down to individual circumstances and preferences.

Look at this mess YOU created, and lost income because your emotions are involved. 

If you waive the late fee, it will create more problems in the future. 

*This post does not create a CPA-client relationship.

It all depends on your situation and what state you're investing in.Everyone and their brother will tell you to create a Nevada or Delaware LLC - no matter what your situation is you (most likely) do not want to go this route.Other than that most things you'll encounter are the same. 

Insurance can be had for each structure.I have had serval properties in this manor, recorded on a deed, with 2 separate addresses, and insured.I'm curious as to what your lender or escrow has advised or instructed that creates the challenge?

They are not all created equal. guidelines will differ, minimums will differ, rates will differ. i can't speak to credit unions, because they can make their own guidelines and rates.

Your attorney is there to create the documents not tell you how much pref to give or how to split the money.

Money tends to be infinite but individual time is not.