My company regularly serves as contractor for buyers utilizing 203K loans. 

By "professionally" I mean using my private capital, seeking out investors, and then loaning said capital to their projects on a regular basis. 

isn't rental home treated separately as getting taxed only once as capital gains and my regular income on 1040.

There was vomit on the floor.Question:  How much should I bill the company for the biohazard cleanup and the emergency services response? 

Over-leveraging is more of a problem if you don't have the income or reserves to cover the debt service. 

You won't get this property on multiples with inspection but if it's your primary residence - don't wave inspection.Buy a regular house and don't compete with investors.Or offer substantially more money to offset their cash offer with no inspection.The price is never the only term of the offer.

C is going to be blue collar, and service people.

Your sister could be added on as a non-equity employee and issued a W-2 salary for services provided. 

@John Moran,There are number of active investors as well as service providers who are frequent contributors on this forum.

A property management company is a vendor and I wouldn't give equity in exchange for vendor services.