@Daniel BrownPaying an attorney to create a single member llc.

To get started, you could create an LLC, and maybe once you are doing more flips, you can elect S-corp next year. 

If you like a lot of flexibility and be able to create your own reports, tenantcloud may be not a good option.

We would like to look at all of the options available in order to see if we can create residual income ourselves rather than selling and giving this opportunity to someone else.

To deal with the changes in height that are in the transitions between rooms, I'm thinking about using various width boards to build custom height floor transition/ thresholds between each room. 

Apologies in advance for my absolute ignorance with this stuff.1) We plan to purchase all cash in our names then transfer the property into an LLC that we haven't created yet, less for liability and more for tax purposes (our accountant vaguely suggested we should start an LLC that does really anything so that we are able to write off more home office, travel and equipment expenses that we can no longer do since recent tax changes).

They didn't just create a portfolio over night.

Any time a landlord accepts rent payments in exchange for a person to live somewhere, they have created a legally binding lease.

Anthony -  thanks for the question … I would recommend that you  contact  your bank  and whomever else you want ...using the same  exact  scenario and questions - outline / ask  whatever questions you have ...maybe gets some  basic  quotes ….once these  conversations are  completed - make a  decision as to whom you want to use for the  pre approval/ pre underwritten process ….. the FHA  product is  very homogenous and  shouldn't  be too much different from one lender to another ….. the  customer service might make a difference

Communication is different than serving notice or an attempt to create an addendum to the contract.