Hello to all the brilliant BP'ers out there, hoping to get some good advice on an uncomfortable (albeit not uncommon) situation. 

I am curious of some non-real estate related businesses that the brilliant people of BP may own and operate.   

There is no requirement as to the length of the governing instrument, and with proper drafting the agreement can be straightforward and uncomplicated.

It's a brilliant idea, I wish I would have thought about it with my first house.. just buy a duplex or triplex, and especially if it's your first home, you'll get a FHA or conventional loan with 3% down since it's your primary residence, and then the rented side helps you make double payments.. in no time you'll have enough money to do an equity line for another house!  

I'd start answering your question but it has several parts and each is about as complex as the next.Owning and managing are in 2 different ball parks and depending on what you own depends on how you manage.. a SFH single family home for rent is rather uncomplicated, your dealing with one property , usually just a few tenants usually related and as long as your property qualifies for rental license your OK to go ahead and rent it out.

I can recommend someone in your neck of the woods who is all three of those things, and he is brilliant.

Simply brilliant.

Being there at the moment of maximum pain is brilliant!  

Business Brilliant by Lewis Schiff. 

Wow, that's a BRILLIANT suggestion and a strategy that can make a world of a difference, esp for a new investor like me!