To reduce a little bit of my risk of getting bad tenants in the form of non payment, I would require two options:  A.) two month's rent ($700) up front or  B.) one month's rent ($350) with parent co-sign the Renting agreementThis particular apartment complex is highly sort after and the $350 per month rate is the lowest rate over the past 3 years.

The book Zillow talks mentions that male agents start lower, but reduce prices less. 

The 1st option would allow me to close on a duplex within the next 30 days and reduce my mortgage to $150.00 per month as the other side is currently rented for $1200.00.  

I am not a marriage councilor, a quick cash business, bank, humane society etc etc.I say all this to make the point------- Have a lease    Stick to it       Be firm     Don't make concessions     It's an agreement/contract       Hold them accountable     They are an adult      Don't accept a reduced rent because you feel bad for them - this is a business not a charity.Because you accepted some sort of payment of rent you may not be able to count this month as violating the lease on the rent amount - you will have to check state and local laws.On the pet provision that was broken, you should be able to give them a 30 day vacate notice for violating the lease agreement.

To save, I would suggest opening a separate bank account, have some of your earnings go directly there, and add to it as you can further reduce your living expenses.  

But, I have a feeling that if you really dug into the numbers, you'd find that you're just creating an unwieldy infrastructure that's going to hinder your growth and reduce customer satisfaction.Again, just my $.02...

I am therefore considering changing the tax status of the LLC to an S-Corp, which would reduce my self-employment tax by allowing me to take some of the profits as corporate dividends. 

Depending upon the area you might do this for just your exterior doors or all doors on the property:To Reduce Wear from AbuseUse longer than standard screws on the hinge plates of the doors you install.Increase the number of hinges you install from 2 or 3 to 5 or 6.

The general consensus is that the rebate will need to reduce the purchase price of the asset and your accumulated depreciation and depreciation expense accounts will need to be adjusted to reflect the change in cost basis. 

When getting ready to close one's first deal as a newcomer, what are some steps to take to minimize the risk involved?