awesome idea and here are some big tips:- know that the leases are often end of aug / early sept, through end of the school year. so some people who only do this strategy, see that they have high vacancy in the summers. plan for additional vacancy % in your numbers, OR try to have your leases run 8/1 - 7/31. - if you're renting by the room vs renting the whole unit to a group of friends, have the following written into the leases: designated cabinets, designated fridge space, designated laundry days, overnight guest rule (and what's considered 'overnight'), + large gatherings rule.- remember that you'll be paying all utilities if you rent by the room, so factor that into what you charge for rent, and consider using remotely-controlled nest thermostats so they can't jack the heat up beyond what any normal person would pay for (if you're in a cold area). the same could be said for a home with central air in a warmer climate.- consider baking into the rest biweekly housekeeping, so that you know that the property is being kept up with (prevents pest issues), and you won't have to deal with any quarrels over who's cleaning the common areas more than who.- always have the parents co-sign the lease.- make a manual for them. what would your own kids be calling you about when they first move out on their own?

I'm a realtor here in Missoula, and I'm planning a large subdivision project with a partner of mine in nearby town, we'd be selling roughly 200 homes.

We plan on flipping our first home soon and a few down the road to eventually keeping a few as rentals.

With a second cause you sue for delinquent rent, late fees, damage, et al.You can file a first cause alone, a second cause alone, or a combined first and second.My question:  If you plan on filing a second cause (i.e. the deadbeat renter is gone and you have possession), how do you find out where he is to serve him the court summons? 

Live there until once again see #1.4. 1031 into passive NNN commercial or fractional passive real estate that becomes your retirement plan until.....Yep see #1.You can live tax deferred but you gotta die to be tax free!

bottom line is plan for the worse hope for the best. 

If needed (this shouldn't reallycome into play as plans are already being drawn)Keith Walker

this could be a good solution but you should still at least break even with LTRs as a backup plan. note that even a breakeven deal is only breakeven for a short time. rents go up, mortgage goes down. you could also start looking offmarket!

A few of the reasons I’m planning to do this are. 1.  

I’m a real estate attorney who has helped clients with large master planned developments (single family, multi family, commercial).