Just to be clear, did M******** ever pay you outside of Zillow or did she mark the rent as "Paid Offline" without you receiving any funds through any method?

All you have to know is how to buy something at the right price so that it pays for itself.  

The down-payment and closing cost shouldn't be that high for him to pay by himself.

I like the benefits of S-Corp, however we wont be paying ourselves a salary.

@Brandon ElliottIt does not make sense to get 12% and pay 10% as you will lose money after taxes….To answer the question about private lending - most do it because they are tired landlords and not necessarily due to funds they have but wanting to be more passiveI would want $250k as many of the lower dollar loans are very risky

It would be rental property to my parents and I would pay a 60% market rental rate and I would also pay the loan.

When the lease comes up for renewal, fix it then; but honestly a good tenant shouldn't care what it says and pay on the 1st.

If you don’t feel comfortable doing it yourself pay an attorney or have someone you trust review it with you.

since a BRRRR involves a purchase AND a refinance, you'll 'close' twice and likely pay 10-15K just in closing costs.

A little background - I'm a nurse and have been hoping to find a market that pays decent when compared to the cost of living and also has high prospects for growth.