@Kerry Grimshaw Thanks Kerry, I've heard advertisements for Stessa (I think on the Podcast?) 

I would consider advertising your units by listing the property online and then have your friend send the friend-of-friend the link (rather than you just directly forwarding an application to them). 

They spend thousands on advertising mailers, calls, bandit signs, etc to keep that deal pipeline full. 

If I advertise my property on all the DIY sites (Zillow, Trulia, etc.), will a real estate agent representing a tenant find it?

The two properties are also nearly identical in look and unit type (same developer) so instead of advertising separately we combined the budget of both and got a higher level of advertising on Apartments.com.

Not sure if there are wholesalers structuring deals like that in Sioux Falls or not, but if so, hopefully they are making this clear in their advertising to sellers.

Sometimes putting a for rent sign in front of the house works wonders and sometimes it can be detrimental to the investment itself.Why You Would Want To Use For Rent SignsRental signs are a great way to get word of mouth advertising from those in the neighborhood.

I sent an email to the state department as well to see what they say.I believe you would be ok and fall under the carve out provisions. that are intended for private investors.. they don't want you advertising or holding yourself out as a lender and the volume is like you describe a couple a year.. but you did the right thing check with the state. 

Anyway I know that's a little ambiguous because I don't know what your business is, or what you are trying to advertise, but I think what I said above is generally true regardless.

Because you'll be living with your tenants, you really want to be careful... when you advertise the units, make sure that you let people know that the "owner lives on the premises" ... some potential tenants will screen themselves out, which is a good thing.