here are some tips:3bed MTRs aren't as in-demand, so don't be spooked if you have longer periods of vacancy. you could consider doing MTR by the room, for all traveling professionals, to avoid those periods with zero income coming in. you'd be surprised by how many traveling professionals are willing to share a living space, to find affordable housing, especially if you'll allow pets!

For instance here in the DC area, a townhouse would be a great option because it would allow renters the option to live in home and they can possibly have pets and less noise as opposed to an apartment like most renters usually result to in this area.

Rents will go the the LLC....One of my pet peeves is that you can "do" most "anything." 

If you do that, be sure and get a non-refundable pet FEE...not deposit.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Moving furniture, pets and multiple people can wear quickly on the finish of your hardwood.

Misc -> Smoking / pet policy6.

5) Have you established house rules for things like quiet hours, who parks where, whether or not pets are allowed, etc?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I don't want pets.