I also highly recommend Andrew's response of Owner financing.

Jason Vo, thank you for your response.

I have asked those questions about the references and have yet to hear a response back...We aren't exactly comfortable doing deals in the midwest sight unseen and have a property management in place that we aren't familiar with. 

Thanks for the response as well Paul, my concerns are not necessarily around depreciation (I’m pretty sure that buildings are depreciated over 27.5 years opposed to 20 years) or other deductions that are typical to long term rentals but rather tax guidance that dictates what is a schedule E rental portfolio vs. a schedule C business similar to hotels.  

@ Lucas Machado , Thanks for the response and the excellent insight! 

Thanks for the quick responses!

Thanks in advance for any response.

Death does not end responsibilities.

Gail Thank you for your response!

The cost of Deed prep is likely your responsibility anyway.