This may be a good solution for you but be sure to understand the law and operate it properly so you don't lose the protections afforded.Most investors I deal with own the property in their own name.

I normally forbid tenants from operating a business from a residential property.

Last year I adopted the Profit First System (Mike Michalowicz) and use the following accounts to manage my business: Operating Expense, Bonus money, Owners Compensation, Tax, and Vacancy/CAPX/Repairs.

They also operate in the East Valley ;-)

I still use the first guy my realtor suggested from 12 years ago, but now that I have 18 properties we have three different Plumbers/HVAC companies that we can call on.As for the operations side of things a Realtor has been nice to have in the back pocket but of the 18 houses we have bought I think I found 14 of them on our own. 

Need to know the actual operation.

The current owner does not live in the area and is not involved with the operation of the building other than working with a local pseudo property manager.

But I like the idea of interviewing your PM to try to get an idea of how they operate and what their philosophies are.My best friend is a retired police officer who started his own property management company.

reviews and will not ping you in general if we have that or similar).SUPER EXTRA BONUS HINT: You already moved those down payment funds from your "business" checking account into your "personal" checking account 3+ months ago, so I'm not going to have to ask your CPA to write a letter "promising" that the use of "business" funds for your down payment will not impact your business operations (mini hint: no reputable CPA is going to write that letter FYI, see above about insurance...).Your self-prepared ("stated income") 2019 YTD P&L shows that you're doing even better than you were in 2018 or 2017.If you did ALL of the above including the super extra bonus hint: Then I'm over 60% sure that your 2018 taxes will be the ONLY basis of your income calculation, assuming of course an above-average competence lender local to the state where you are buying real estate.

They will have normal operating expenses, but they should also have a reserve fund for repairs.