Nothing wrong with renting out rooms which is called (Boarder income). 

The rest of my tax/income situation is very basic.

Adding a negligible amount of tax revenue through income?

Also, setting up one of the units as a medium term or short term rental to increase income.

I believe in win-win and don't begrudge the club their income from speakers.

I used to run my own property management company as well, so if you go that route, you can become the source of sources for all their investment needs like I do. 

@Account ClosedIf you receive a gift from a foreign person of USD100k or more, you would need to file Form 3520 to disclose it but a receipt of a gift is not subject to income tax.

If you have 2 years of landlord tax returns you should be able to count 70% plus of that income.

What are the best sources of financing for this scenario? 

Let’s say we pay X amount in mortgage.My question is : how do I calculate mortgage/interest/property tax for other house which we have rented so that I can deduct that from rental income?