I'm also I'm concerned that with sleeping sofas, users would have to put on (and take off) the bedding every day.

Tax basis will relate to your filing status and entity structure which is best spoken to by your attorney and CPA.If setting up by yourself, you'd risk anonymity concerns which relate to asset protection.

The risk is that they take only the things of value and leave the rest for you to clean up.2.

Why ask: Learning how your mentor handled failures or setbacks will help you gain perspective on the full spectrum of risks and challenges in the field.

It's a lot quicker, and you can minimize the risk substantially.

Just guessing the numbers.If we put down $400,000 together with an interest rate of 7% (it could be higher), then im guessing the monthly mortgage with insurance and tax would be around $3,886.If each unit rents for $1,500/month: Total Monthly Rental Income: 1 , 500 × 4 = 1,500×4=6,000 Monthly Expenses: Mortgage (PITI): $3,886 Maintenance/Repairs: $500 Property Management: $600 (10% of rent) Vacancy Reserve: $300 (5% of rent) Total Monthly Expenses: 3,886+500 + 600 +300 = $5,286 Monthly Cash Flow: 6,000−5,286 = $714We split the profit in half so each person takes $357 a month..How much should we be profiting from this in order to make it attractive to jump in? 

I have found some good groups that put on monthly events.

It makes it easier when you put things into sites like Air BnB and whatnot.

If it's below average, I would discontinue the lease when it's up and then do a renovation then put it on the market for market rate. 

I had a few questions and would appreciate any advice in general.Strategy / Goal: BRRRR but no major rehab at first to lower the risk.