I can't comment on the legalities of that, however in the past I have done this with electrical.

But most people get them resolved through an attorney instead of a CPA.As someone who owns non-US investment properties and has to deal with legal/accounting issues in another country, I can definitely sympathize with wanting to get everything done under one roof.

Once you screen and approve your tenant, then you or the tenant contact the section 8 office.

You might have saved me some legals trouble that could have resulted from different people doing PM work across different LLCs.  

If you get a dental issue approved on your claim, you get free dental for life.  ;-) )

If one person finances, how does that work legally about property ownership? 

No legal advice given

Otherwise, the lender would not trust you that you are moving to a smaller house and won’t approve the FHA loan.

I didn't even think about the legality of it all.

It is better for them to get half the profits than no profits, and you gain invaluable experience as they take you through the process with them.DO NOT go half-cocked and mail without having an understanding of the legal requirements for your area for assignment contracts.