Your name would not go on anything, just need someone to review and advise on best course(s) of action.Also, not sure if there are nuances with California but experience with that state would be a plus as a noticed this: https://www.ftb.ca.gov/file/personal/reporting-like-kind-exc...Thx!

Aloha @Christopher Jordan  - congrats on selling your business.  

Until I have several properties in one area, I wouldn't consider using a company because you will serve your tenants better with one person who will be available but of course that person must be reliable.

Sara Cunningham yes it will be our personal property.

It's about whether its best to do business with tons of competition, or little competition.

There's probably no "do this" and it works for everyone so keep gathering different opinions.The way I view a "good deal" might be different than how you view a "good deal"...so let's look at it from an "average" person's perspective.  

I'm writing this post to see if there is any advise to give me or a mentor that's willing to help me understand if this is an area in business that I can grow in.

If you're a dead set on being a passive investor, it may take you longer than if you view it as a business and you are involved in it day to day but that's just a guess.

It's about banking just like almost all businesses.

If you are set on the idea, for liability I would have the attorney draft a waiver, simple and cheap.Again, personally I would use that space for guests and possible include a gym pass to a local gym?