Technically, I would create a master lease agreement to protect my interest, while I will encourage my tenants to create their own agreement, regarding cleaning, noise, overnight guests, utility sharing, etc.

Little background about me, I have 8 years experience of doing residential mortgages and small commercial loans.My plan was to purchase the property using FHA as I did then in two years use the VA loan to purchase my primary property because I'm a veteran.

I was going to post some pics @Troy Fisher , but having technical difficulties with the link.

While Canada has no gift tax and Shahriar could technically "gift" any amount to his relative in the U.S.A. without tax implications at home - the transaction(s) would still be subject to U.S.A gift limits and taxation - he would not be investing at that point and could never "legally" accept any form of capital repayment {gift disguised as a loan} or profit from the gifted capital.The Canada Revenue Agency (CRA) takes an extremely dim view on loans disguised as gifts and, at their discretion, decide that the gift was really a loan or investment and treated as such from a taxation perspective.

What was rather ignored was the fact that a deed is effective when it is made, not when it is filed, so technically, that could cause the agreement null and void, as the buyer agreed to buy and at the same time, deeded the interest back, but the deed was basically kept in the drawer, held by an escrow agent and often held by the seller!

Looking to maximize IT to aid me in becoming more efficient in moving in on real estate deals, and my experience in construction to give me a leg up in making flips profitable.Have a good friend who I partner up with, whose background is in investment banking.

@John HornerIf you want to get technical bird dogging is illegal if you get any compensation.Pretty sure it would be considered practicing real estate without a license and any agreement you put in place will just be knowingly trying to circumvent that fact.So if you ever took a bird dog fee your best bet is to turn yourself in to the local authorities and plead mercy by the court.

I performed a background check, no liens, judgments, licensed and insured, etc ...

Technically, your math is correct.

We will be requesting information on each of the residents, so that we may perform background checks...etc.