I still think it would be pretty distasteful to pretend one position and then take another, but the seller certainly has the ability to read (and have his/her lawyer read) the contract before signing. 

Most of the ones I've seen are in RS-2 and RS-3 zones, which I understand are zoned for single family residences with the ability to add only one additional dwelling unit if grandfathered in before 1957. 

If you have the ability to put them on separate meters, you should.  

@Joe Sadusky doesn't they "payee" have the ability to cancel the payment? 

Private lenders in Florida will lose their business purpose exemption if a bill introduced just a few days ago, passes the state legislature.

I cant tell you how many HO's dont pay attention to this detail and it will hurt your curb appeal and your ability to sell if the need arises in the futureIf your siding is yellow dont pick a blue roofRed siding- dont go w green (unless you live at the North Pole)

@Jenna Columbus, I see a lot of bigger apartment buildings that just went up in Vernon (something I would love to do in the long run), but do you feel like that has possibly affected the ability to find tenants?

This entity woud have the ability to list the property for rent, enter into leases, evict tenants, hire contractors, etcetera.

I would recommend you have a lender look at your specific situation to help give you an idea of what affect certain cashflow numbers (positive or negative) may have on your DTI and ability to qualify for loan #2. 

I am looking for a way to automatically read them, generate a bill monthly and send it to the tenants.