In practice, I think a lot of people for an incidental expense just throw it all into one property.

Again, the lender is going to be a big factor in determining what you can do within the limits of the local law.

I don't know what took me so long to get on here...I am an CA licensed attorney practicing real estate law, estate planning, and immigration law.

I did say in above post if you had bothered to read that I've read my state tenant laws.

Practically worry free. 

Translation:  if they mess up, and they know the law, you may have to do an ejectment (similar to a foreclosure) rather than a straight eviction.Lease with option to buy is the way to go. 

Would love to learn from you all and share some best practices.

Practically speaking, if you do CFD, just record it. 

.* in our country it is mandatory, according to the law, to manually announce (report) an income, regardless of source, that doesn't come from employer from regular job.

You are recording that lease per Ohio law, right?