I assume, I will have to open business accounts and use those to manage my business expenses and business earnings etc. 

Partner brings caliptal/down payment (passive involvement) and I do the management (active REPS activity).

In general, I agree in our market here in Pittsburgh "rent by the room" isn't a very profitable strategy and when we've managed for owners with this strategy it always turns out bad.

For me, it's a great blend of banking, bookkeeping and tenant management software.

The calculation takes more than just Rent and PITI - they consider other expenses like vacancies, management fees, utilities, and more especially for full-doc programs.

Any advice on managing this situation, reducing costs, or navigating the permit process would be greatly appreciated.

Franklin As long as you're looking at things in the long-term, screening your tenants thoroughly, staying engaged as the property management, and are diligent about increasing rents the maximum every year, you should be fine.

All money would stay in the company for repairs, management, buying new properties, and paying taxes if necessary.

CURRENT RECORD HOLDER: CHERWENKA INVESTMENTS LLCDEFENDANT IN FIFA: VISION PROPERTIES OF GEORGIA LLCTAX TRANSFEREE: RIAH CAPITAL MANAGEMENT, LLC AS NOMINEE FOR SOUTHERN TAX CAPITAL LLC SUBSEQUENTLY TRANSFERRED TO TAX PORTFOLIO SERVICES, LLC AS THE NOMINEE FOR SOUTHERN TAX CAPITAL LLC"Based on Above Scnerio for a Tax Lien Listing if Someone will buy the Tax Lien what Will Happen?

. - Downtown location, near restaurants and a 3 min walk to train station- Only 2 off street parking spots, street is permit parking only but there is free parking down the street- Units have just been completely renovated- The city does not have any ordinances against short term rentalsThe biggest hurdles for me are: we're about to go into a slump/down season; potential parking issues; and if one of the other units were rented long term - dealing with the hassles related to that.