If you are pursuing a residential (1-4 unit) or small commercial (5-8 unit), I would stick to the standard agreement, perhaps with my own schedule on a larger property.

Best of luck on your journey to becoming a professional engineer and achieving your real estate goals.

Consider that the other unit is paying or close to paying the debt service and you have little to no house payment. 

And, just to be clear, I'm not trying to setup an additional unit--I am just trying to accomplish receiving mail to '123 Main St

Jeff,Turnover time being what it is, maybe the better thing to do is to try to get the turnover staggered so as not to happen all at once.One way to achieve this is to have leases that have differing end dates, even if it means using a 9 month lease or 13 month lease.Then, only evictions and lease breaking will cause the turnover to occur in unpredictable timing.

This is much lower than the CAPs I am currently achieving on my condos, but to me it feels like a good tradeoff given that the houses are in very good areas with potential for appreciation, good school, should attract good longer-term tenants, etc.

What can you tell me about finding lot's, possibly having them lumped into 1, and ensuring that the zoning is appropriate for the type of goal I am trying to achieve?

Obviously having the right attorney, that would assist in achieving the desired goals when “pooling” funds, is the only way to go.

How are you achieving control?

About the paying a years rent upfront; I once had this a while back and it ended up being the most destroyed unit I have ever had.