Correction. 

I'm sure I'm understanding the question correctly so let me know if I misunderstood you. 

One mistake I made due to having enough money to spare when first starting: My chosen marketing method for getting motivated seller leads was direct mail, and I spent a small fortune on that without really tracking and evaluating the marketing ROI, tweaking accordingly, and trying a different version.

Alex is correct on that one. you will be negative every month.

Business license, permits, random traffic, neighbor complaints, grease fire risk....and the list goes on.Send them a cease letter (in AZ it is called a cure notice) to correct the violation. 

I agree with Sam Shueh , and his method of having someone else list the property.

I feel like everyone now a days are mentoring just to add income to theirself not really to think anyone else methods .

@Kyle Ritt - correct on the HELOC.

You are correct on the liability protection with the title in your personal names but an LLC will provide you guidelines of your operating agreement.

As long as it is agreed up-front and in the lease correctly, there shouldn't be any problems.Another idea for you is a month-to-month fee.