There should be at least one entity - such as a family or personal trust - between you and the LLC which owns the building(s) and the S-Corp which processes the income.If you visit the property during the day when most folks work (81% according to the Bureau of Labor Statistics, that might be lower now after "the crash") you'll be less likely to be recognized as the buyer, especially if you dress down quite a bit while doing your inspections.Then, hire a management company and have the rent checks and electronic payments go to them.

To that end, "interview" a couple of mortgage pros to figure out which one is best for your personality, temperament, and plans.  

Build your team:- Contractor- Realtor- Lender- Attorney- Closing CompanyYour team should be people you can interview and get accustomed to. 

Your COGS is you recognizing all of the accrued expenses that it took to get the inventory ready for sale.

Can you bank roll the sewer repair and continue to pay the mortgage while you either drop your rent price or simply continue to interview for a good tenant?  

I know this thread is old, but I'd love to interview/talk to someone who successfully/consistently does AirBnB for rentals.

I currently reside near Los Angeles, CA and have quickly recognized I am fortunate to own a home here but utilizing a buy and hold strategy will probably provide lower returns then other areas.

They have interviewed a ton of investors that give voice to real life success in real estate investing.

It pays to interview a few in the beginning and not just go with someone without getting more details/ references.  

Are you going to waste all of that time interviewing people or going to HD and renting a large apparatus?