The key is when you started operating - i.e. actively looking for deals.

You will spend around half of your rental income on the maintenance, taxes and operating expenses of the property.

Here is a link: https://www.biggerpockets.com/forums/80/topics/561338-nowthis-is-automation-lead-generation?

He told me that we can't do that and that it is a partnership.In looking at the IRS definitions it states:PartnershipA partnership is the relationship between two or more persons who join to carry on a trade or business, with each person contributing money, property, labor, or skill and each expecting to share in the profits and losses of the business whether or not a formal partnership agreement is made.The term "partnership" includes a limited partnership, syndicate, group, pool, joint venture, or other unincorporated organization, through or by which any business, financial operation, or venture is carried on, that is not, within the meaning of the regulations under section 7701, a corporation, trust, estate, or sole proprietorship.A joint undertaking merely to share expenses is not a partnership.

In other words, because a line can have cash advanced at any time, do you set up an operating agreement/bylaws for who/why/when cash can be advanced on the line?

Paying cash may help investors sleep better at night (ignorance being bliss) but losing all that money every month is certainly not wise investing.A wise investor maximises leverage to generate highest returns on cash and holds a reserve in other vehicles to be used for the same security as dead equity while still earning maximum returns.

@Ali BooneTD Bank, RBC, BMO/Harris will all lend to Canadians in the states in which they operate.  

I was thinking of hiring a VA to handle calls/take over my lead generation.

I've got a lead on an 18 unit motel property with manager's quarters that is coming up for sale as the owner/operator is retiring.

I did read that you might need a business license to give you the right to operate.