When he left his teaching job in June 2015 I expected things to “tighten up” and be fully operational…but they didn’t.I started working with partners in June 2015 when we bought a 3 unit property.

I, my company or my affiliates are in no way or form operating outside of the NYC regulations.

I operate in the Lehigh Valley as a landlord and am acquiring additional properties, to flip and to hold.A natural way for you to get started might be to gain control, if not ownership, of some off-campus  student housing.

Check the actual operation performance of the property like:It's already tenants ooccupied?

This is how I like to operate.

Schedule E or C usually).If you are setting up a multi-member LLC with investors or other partners, then you should probably consult an attorney who really knows what should go into a good operating agreement for a multi-member LLC.  

They are operating illegally at that point.  

Here's an example of how I'm thinking it should be done:If assumed vacancy is 5% on average at stable operating conditions and expenses are $20,000 per year, then tenant reimbursements should be $20,000 x 95% = $19,000 per year.I haven't seen any example DCF's do it that way though.

I would own and operate it. 

@Julie Clark my friend and are I setting up a wholesaling operation in the Seattle area. perhaps you could connect with him.