So, a disgruntled investor in a properly done Reg D offering would have to prove fraud or failure of fiduciary responsibility to be successful in a lawsuit while in a private offering relying instead on the general exemption the burden of proof would include many other charges, such as non disclosure, inappropriate investment, due diligence failure, etc.

Here is the situation: I own 2 properties in my personal name, but collect rent and pay mortgages/expenses through a LLC business account. 

I am looking to find a good software to start doing rent collection on.

I always like to say why pay double the taxes purchasing 2 single families when you can collect double the rent for slighter higher taxes with 1 property.   

The information you collect and distribute are in your hands.

I agree with following your lease, but you can't charge someone to live there and collect rent from another tenant for the same time period.

Upon closing, engage a licensed loan servicer to collect borrower payments, make payments to your lender, deposit the difference each month to your account, issue tax reporting, and ensure general legal compliance. 

If you wanted you could collect a payback for doing it.

If you can't rely on the consistency and predicatbility of rent collections in some of these areas and the properties are not manageable, the cap rate calculation is virtually useless.All of our properties are rented on 1 year leases.  

Buy the house w/ a friend so that you can collectively afford more and split everything.It's good to know how much you can afford before doing anything though.