My guess is you have problem tenants that you will not want to keep.In the future you make it clear as to what method is to be used and clarify that if it is not delivered to you, in what ever form, by the first every month you will issue a pay or quit, charge late fees and if they pay late again you will terminate their lease when it is up.

It’s oddly structured and I need to sit down with a professional tax planner to map this all out i guess

Combined with ring/security cameras it's a reasonable way to go, I guess.

If yes, then I guess I am being impatient.

I guess there are no rules for this.

I guess I am not following you.. what is your roll in this transaction. can you explain how your setting this up.. are you doing a lease option with the owner.. then re leasing it for more money to the actual tenant / buyer ( hopefully )

I guess I am just out of touch with this stuff so I was curious why anyone would do it and if it actually worked.So do you get business credit cards is that what you have.. ?? 

Even if you were to want to have a portfolio in Omaha (I’m guessing your wife is at UNMC), what you are describing for the payment and amount owed on the house you own it doesn’t seem like a very good rental property as far as the numbers go.

Protect yourself with an umbrella liability policy if you're concerned about being sued.One girl's opinionStephanie sure, but i guess my question is more along the lines of...when setting up a business account, what bills have to be transferred over to a  business expense?

If they somehow guess you are the owner though, it still doesn’t matter because you would not be the owner.