JeffHope you will enjoy the services of B.P.Golf Equipments

Sell old property #1 next week and start a regular exchange.

I’m not looking to receive a paycheck just looking to exchange my service/ time for your knowledge.

Greetings @Sean Patrum,  I am also located in Charleston, SC and own my own business in the food service industry.  

In the meantime, they will pay regular market rent and I'll see how they do. 

With old houses, things break fairly regularly so if you don't have a good local team to fix things, you will either frequently overpay for repairs or get bare minimum fixes that don't last very long. 

At this point for all you know he may not even have another residence.Agree the 24 hours thing is kind of excessive.....Having ALL people that are living in the property screened and on the lease is protection for the landlord....if you want to take your chances, then that's your choiceDo you do regular inspections of the unit?

If the owner hasn't refinanced, I calculated that they'd likely still owe around $13000 on the loan if they had a 30 year mortgage and they made the regular payments each month.I started with the conventional financing route.

You could argue the the activity is not regular and continuous enough in order to be considered a trade or business, so it would be a capital gain.

Make sure you are getting regular reports.