First, i would not furnish the places, it will probably get trashed, let them get there own furnishings and make sure that the lease says they must remove them from the property when they leave. i would have them pay for utilities, to an extent - have them pay for electric, supply the heat but give them an allowance for certain amount of months ( especially if you have older furnaces and they run on oil heat ) if they go over then you charge them for it. i converted mine to gas with new furnaces, i include heat in mine, but i control the thermostat ( online, thermostat is locked at the house ). i also provide water / sewer and free internet.

Perhaps the owner would carry the $125,000 and bank would allow him to be in second position.

The Revenue Code allows an LLC to be taxed in many different ways: a corp, partnership, disregarded entity.

you have to message me, this site does not allow me to give your a phone number

One rule of thumb in real estate if you don't have a real estate license you are not allowed to market the house and have finder's fee.

You have to check the zoning to make sure it allows for the extra units.

Depending on your state law, you may have not allowed to accept it.

So to recap, in my pretty house model, doing a wall to wall rehab, all floors, kitchen baths, walls will allow me to set a record on the rents, and when it comes time to advertise I attract the tenant with the higher credit/income and  I would like to add that in March I closed on a SFR in Embassy Hills Port Richey for $51,000 A 2/1/1, 1100 SF.   

True, some turn key companies put big mark ups on their properties and sell them above market value, however, turn key companies that allow financed purchases and allow for an appraisal contingency can't do that.

I believe that the reason some say it's illegal is that there is a general "nothing is allowed" approach with the municipal code unless it is specifically allowed.