It seems to me unless someone is physically going there on a regular basis there's really know other way to get this data.

Tax benefits go to the landlord with depreciation, the flipper has regular income.

See link for reason why: http://www.biggerpockets.com/forums/52/topics/6804...I just use the regular Kwikset locks, and you only need to switch out the part that has the key cylinder.  

My understanding is that an LLC and an S Corp basically have the same tax rules in that their income flow down to the individual and they pay taxes on that income as if it were regular earned income (based on whatever tax bracket that individual/couple falls under).So, when you ask if the IRS would want to get taxes from you on the $1,000 of rental income, the answer would be absolutely yes. 

It is no more difficult than a regular closing to assume an FHA loan.  

Still have cousins in Shillington and Laureldale so I get up there pretty regularly.

Thankfully I had invested with them through the Maverick Investor Group, so my terms were a little different than what I see for their regular customers and I didn't lose any money as a result. 

Chris Mason  so can I do that with regular conventional loan?

I would suggest you do some serious networking regularly by looking up local meet ups to talk with others that are doing REI successfully in the area you want to work in.

This also applies to any "wrap" mortgage agreement.A "Partitioned Note" is one that divides principal, interest, payment or other terms, such as a balloon requirement into separate parts but is constructed as one obligation and secured by one security agreement, in Texas that would be a Deed of Trust.In the body of the note, each part must be described as an individual obligation as being a part of the entire obligation.I can have as many parts or partitions as necessary to meet the needs of several parties or one party that has different underlying financing requirements.Conceptually, think of a Series LLC, where each member has their own cell which is accounted for, their capital and earnings within that cell and each cell is consolidated to the LLC for its financial statements.