I hope this message is not received the wrong way, just offering a different viewpoint (but an extremely valid one for others considering the same thing)

@Tyler Brown You could bill the tenants for their usage specific to a known factor (square footage, occupants, etc).

Overall, transactional costs as a percentage of the deal are extremely high in Western New York for all these reasons, additional NY State junk, and other regulations that drive our costs up, as well as the relatively small value of the properties.

Your (Virginia) attorney will probably point out the following to you...1) if you do not register (as a foreign entity), or set up a Virginia entity, you risk having all your agreements being voided should you wind up in court;2) An S-Corp can not own another S-Corp3) For tax reasons, you never want to hold title ina C-Corp (go talk to your CPA to better understand why), therefore, if you decide to set up a new (Virginia) entity, it will most likely be an LLC4) Virginia has EXTREMELY aggressive taxing authorities, so if you do require a physical office don't forget to register and get your local business license.P.s.

I'm extremely exited to be a part of the BP community and connect with as many fellow members a possible.

I see frequent references here regarding housing hacking and the usage of FHA loans.  

Since i'm extremely happy with my job I don't have the objective to become a REI so that i can quit my 9-5.

FYI - I am extremely selective in who I refer people to, so please let me know if you have a good or bad experience.

I forgot to mention that if you buy a HUD home as 'owner occupied', you are required to live in the home for at least one year before moving out (barring extreme unforeseen circumstances).

And neutral cash flow SFRs do not look like it manage that.So my extremely broad question is this: How do you accept investors and get a fair payout for yourselves?