Some people like to sell the theory that “just make tenant A collect from tenant B!”

Question is what lease agreement to use and should we collect first and last months rent?

The collect an upfront fee and never intend to fund the loan.

I agree, but as far as wanting to do the extra work in REI to affect the performance of your properties, for now that's great-  but at some point I think there's a chance you might come to appreciate the hassle free benefits of passively collecting those dividends a bit more.  

The landlord pays water/sewage, gas (for hot water), and trash collection.

Collections for the mobile home parks and the SFH have been excellent for this month (96% paid in full by the 5th for mobile home sites and SFHs specifically).

I have been researching corporate structures and am getting some conflicting information.A tax adviser is suggesting that I setup an LLC in Wyoming, with a trust as the owner, and with me as the sole beneficiary of the trust.I read several articles that say I may have to register the LLC as a foreign entity in my state, New Jersey, because I would still be "transacting" in in my home state.I read some exemptions on what constitutes doing business though:(7) creating or acquiring indebtedness, mortgages, or security interests in real or personal property;(8) securing or collecting debts or enforcing mortgages or other security interests in property securing the debts and holding, protecting, or maintaining property so acquired;I'm trying to figure out what the bolded section means as far as owning income producing real estate, it looks like it may be exempt?

She asking $240,000 and I talked to her down to $210,000 and was curious if an investor would purchase this property at $215,000 to allow me to collect an assignment of $5,000.

My mother had this habit of collecting every paper receipt in an envelope and saving them!

Second question: I believe the answer is yes to this question, but will I need to pay taxes on the rent I collect from my two tenants ($1,750) even if I live in the home with them?