To date there has been no formal business established for any of the activity described below.

Many others came before them too soon or missed the market by a quarter mile, and they ended up selling cheap to the ones who got together when the timing was right and the direction of revitalization was more established. 

One company owns everything and does nothing (this is your SLLC a/k/a “asset holding company”) and a completely separate company handles all of your operations (this is a traditional LLC a/k/a “operating company”) For the operating company which serves as your face to the world and through which you do all your business, you establish a Traditional LLC to carry out the operations of your investments.

Since I do have established screening standards when a applicant does not measure up to those standards I automatically reject their application.

Is/was the tenant receiving medical treatment for mental illness?

They do 30 year, 5/1 arm or interest onlyConventional loan- if purchased with cash- you have to wait 6 months- Anti money laundering law, actually alot of medical pot guys are doing this and getting stuck on REFI so having them go commercial. 

Having lived there is not sufficient to establish a claim if a direct heir (such as their mother) is still alive.

There is not much you can do now to save on taxes except might establish some tax deferred retirement account ,if possible/applicable.

But when I listen to all established guests on BP podcast it seems like they do not like the headache of owning and renting properties.

That means they have established financing for their entities and are never record as an individual.