What I was describing is the "checkbook control model," which is where your money ends up in a bank of your choice and once set up there is no need to go through a custodian to conduct transactions. 

Moving on, my Real Estate goals are as follows:Short-term: Get real estate license, and then hired into a PM firm so as to acquire practical experience as to how managing is done properly, as well as finding tenants, making deals, etc.Acquire first multi-family property, ideally a four-plex/4-unit apt.Gain experience in other types of Real Estate deals such as wholesaling and flipping to see if I take an interest in them, or am particularly good at conducting those operations.Long-term:Own and rent 1,000,000 commercial/residential multi family units.Have my own PM company for my properties, and perhaps others properties as well.I found Bigger Pockets through my real estate studies and discovering the BP podcast, and figured joining this forum is an excellent step in my real estate campaign.

I have conducted my due diligence and found everything about this potential partner to be on the up and up.

This gives me the opportunity to conduct an inspection of the property, see what they are doing or not doing and ensure the HVAC does not get destroyed.)

I recently started a Real Estate Investment Company and I rented a suite to conduct my business...

I am not sure if I would have enough time to stage a home as I want a week or less between turnovers, just enough time to inspect, schedule and conduct repairs, and complete major maintenance.

Conduct an Organizational Meeting 5.

The reason I know this is what will happen is because this is how real estate business is conducted every single day. 

Also, because you are in the rent-control happy Bay Area, make sure you're conducting everything in accordance with local ordinances.Finally, I would go with what Jon said.

What you spend while having fun is obviously not deductible, but you can deduct all of your expenses while conducting rental activities.