I’m looking to do a subject to deal and need to spend about 4K to catch the seller up.

I am spending a lot of time reading through the forums and studying properties and rental rates. 

@Calus Glispie PS: spend some more time here and listen to the smart guys like @Jay Hinrichs @Wayne Brooks @Russell Brazil and  many others. 

Protect your home from lead base paint" pamphlet you give to your Tenants when signing the lease and they sign the addendum they received it.Nothing else besides the lease

Many people prefer the security of a one-year lease in SF, particularly for rent control and eviction protection. 

@Nicole ChangAre you spending a lot of time in the streets?

What is the best way to protect them from the IRS and keep our investments from getting hammered with IRS taxes due to them being foreign nationals?

Here are a few ideas on how you can free up you and your wife's time:1) Online portal for all rent payments and maintenance requests (this way everything is organized and handymen can be notified immediately what work is needed to be done and why)2) Set up online billing if you have not done so already, with recurring payments or automatic payments. 3) Hire a virtual assistant(s) to answer calls, make calls, and do other work that anyone can do. 4) Keep track of how you spend your time currently so you know what changes to make first that will have the biggest impact.Thanks!

After listening to countless podcasts, reading tons of books, and spending ~1 month analyzing deals, I feel like I'm ready to make my first move.

I typically spend less than 10 mins per guest from start to finish (inquiry response, payment verifications, instructions, issues, questions, and tax submissions).