@Evan LoaderBoth GA and KY allow composite tax returns, so first check if your partnership already filed those.

Househacked and renovated myself, allowing me and my fiance to live for cheaper than we were renting.

I'm fully licensed agent and tbh, I've seen some things where agents barely make any effort on properties, so yeah I hope some get out of the business and leave it the market share to the ones who actually know about real estate.I do think Redfin/Zillow and big platforms are waiting on something like this to happen to fully take control of the market which IMO is more scare then the latter.

You have already "bought her out" when you allowed her to take the rehab money out of the deal. 

That said, we're not overly familiar with this market, where to look, or what sort of funds would be required to allow a rental to work.Again, some sort of house hack and MTR strategy would be great but open to suggestions.

I can also form a LLC but can't operate or engage in any business activity.

Should only be a few hundred dollars and worth every penny IMO.My last lease, which I thought was pretty up to date, didn't' allow me to recover attorney fees for an eviction, only the past due rent. 

However, it *should* still be faster than 5 business days of processing.3. 

I'm not a big fan of mixing family and business because it can destroy relationships.My favorite recommendation is the one nobody wants to hear: work like a dog, save up, and buy things you can afford to pay for.

From an Airbnb licensing perspective, it would depend on what your local municipalities allow.