I also have gone directly to the listing agent, and tell them you understand they have to represent the seller with first priority, but that you will accept dual agency.

I mean I understand that if I invest $1000 and make $100 over the course of the year then I got a 10% return. 

Just trying to understand this a little bit more.

@Adam Zach, @Carmen Lewis My understanding they will need to save for a down payment.

Factoring your tax liabilities and transaction costs will help you better understand if the strategy makes sense for this situation.

As it's my understanding AZ is a community property state, you could treat the 50-50 husband-wife LLC as disregarded and file Sch E under Rev Proc 2002-69 instead of a 1065 to save compliance costs.Talk to your tax CPA/EA and attorney.

while i understand the answer will be different for each investor, I am wondering what questions I should be asking myself so I can come to a rational conclusion. 

I put these deals together many years ago, but I was just the Realtor, and not one of the investors, and did not have a full understanding of the numbers.

He is not limiting the form of payment that tenants can use (which based on my understanding is what the MI law precludes), he is limiting WHERE that payment is made.I do the same thing as Dan here in NY. 

I can’t seem to understand the 50% rule if I decided to put only 5% down or if I do the 1% rule.