You can ask at your county to see if they or anyone else around teaches the basics.I've been to several of the free pitches of the national touring acts...and most gave enough wrong info that it wouldn't make sense for most people to take the class or pay additional money over the free pitch to get started.   

This floor includes a kitchen, dining room, and living room but needs an additional bathroom to become a standalone rental unit. 

Additionally, there could be tax consequences for you, possibly losing your long term capital gains tax treatment. 

Plus, like a foreclosure, DILs get reported on her credit report, though I understand they get treated less severely.The basic requirement of a DIL is that it has to be 100% completely voluntary.

I'd plan to pay off both loans within 5-7 years with cash flow from the rental and other income and assets.I'm an accredited investor and will still have more than a year of expenses covered in liquid assets and additional funds to buy another 1-2 properties in the next 2 years, which is my goal.I don't know if I've provided enough or the right information to get some opinions if what I'm planning to do with my current house and new home purchase makes sense. 

The bookkeeping software is currently free of charge and connects to other banks / credit cards or you can choose to bank with them, which is what I'm doing. 

If you more than one owner/member in a LLC, the LLC will file a 1065 partnership return, but all that does is spit out a K-1 (like a w2 or 1099) showing the profit / loss that you need to report on your 1040 form.If the LLC is single member, then you will basically continue file addition SchE for your long term rentals. 

I want to put in place some incentives for new tenants and want to know if anyone on BiggerPockets has done something similar.Here are a few ideas I have had:First Month Free: Sign a 13-month lease and get your first month freePets: No pet fee for the first 6 months, year, etcRent Discounts: Offer a discounted rent for the first month or two fortenants who sign a pre-lease agreement before a certain date.Waived Fees: Waive application fees, administrative fees, or securitydeposit for tenants who pre-lease.Free Utilities: Offer to cover utilities such as water, electricity,or internet for a certain period for tenants who sign a pre-lease.Upgrade Packages: Provide upgrades or amenities such as free parking,access to a fitness center, or a smart home package for those whopre-lease.Gift Cards or Vouchers: Offer gift cards or vouchers to localbusinesses such as restaurants, cafes, or grocery stores as a signingbonus.Flexible Lease Terms: Offer flexible lease terms, such as shorterlease lengths or the option to renew at the same rate, to incentivizetenants to pre-lease.Refer-a-Friend Program: Encourage current tenants to refer friends orfamily by offering them a reward if their referral signs a pre-leaseagreement.Early Move-In: Allow tenants who pre-lease to move in a few days earlyat no additional cost.Guaranteed Parking: If parking is limited, offer guaranteed parkingspots for tenants who sign a pre-lease agreement.

Here's an article with additional FAQs on cost segregation studies that you may find helpful.

We may not use eviction history in NYS to screen tenants, but you may still use credit score and income/rent ratio requirement (but not source of income).