(You act as the bank)Charitable giving to offset gainsTransfer the home into a trust (Like a CRT for example) that will avoid capital gains tax and you can have pay you a set income stream until your death and the remaining funds would go to charity.None of this is or possibly could be advice, I don't have enough info to fully know what is "best" but these are some ideas to think about!

If not, factor minimum 15% for management.Also, consider that you will pay taxes on all the income (after expenses).As others mentioned, research the competition in your area to learn the demand/restrictions.Depending on these answers, you may be better off doing this closer to home. 

I also have a good w-2, live below my means, no debt, and due to get wage increases in coming years. 

The book is saying open up multiple accounts for your business for the purposes of charitable giving, owner income, taxes, paying down bad debt, etc.

My company does the following:• Free and simple MLO Licensing (22 hours online or in person and you choose your schedule)• Mortgage team to handle the backend (meaning, no structuring, underwriting or processing loans) • Competitive mortgage rates backed a company with 20+ years in the business• Downline revenue stream on the lending side (similar to EXP model.)• They do not have to change brokeragesIn my mind, there aren't many cons to this.

HELOCS do exist for rental properties but you are usually capped at 65-70ltv and these will most likely require a full underwrite that takes into consideration taxes, income, dti and all the normal quasi-associated red tape.

By renting out the additional units, investors can cover their mortgage and expenses while generating passive income.2.

Furthermore, the only way I can pay him is giving him my credit card info over the phone....he has no online payment portal.I still owe him for the inspection ($435) and am hesitant to hire another inspector right now.

It doesn't seem like you can find lenders online that advertise wholesale lending for commercial like on the residential side.

Neither of these require income verification and much easier to navigate versus conventional.