(disclosure: I am not a lawyer and this is not legal advice.)This allows you to go after any and everyone for rents due - typically you would go after the strongest person, which in this case, would most likely be the cosigner/guarantor.. https://www.landlordology.com/what-is-joint-and-se...

I appreciate the info - this is good for me to hear even though it's not good news per se.

Having the 105 plan will reduce your SE tax, but it will be taxed as income, 105 is a reimbursement, the receiver of the reimbursement ( your wife) has to add that to their gross income, which you can deduct part of your medical expenses then. that will save you some money on taxes. loaning your own self proprietor llc money again may reduce your SE tax but on the personal side you will be taxed for the interest you pay your self on that loan.

Electing to use a PM is not related to the rental market per se, but has everything to do with YOUR time, management style and in some cases State requirements for an onsite manager.For example, in Calif, 16+ units must have a resident manager. 

Some of these things won't cost you much, but your guests will love them.I would go conservative on interior upgrades...just make them comfortable and things that a fishing crowd might appreciate...I would not focus on the finishes per se.

I wouldn't ask the potential tenant for bank statements per se... but I would ask for a few paystubs as I would with all tenants. 

We do not monitor this per se, but would address it if we learn--from neighbors, others--if it is violated. 

@Cody McCraw I'd be curious to hear your thoughts on buying in NW and SE Roanoke for rental income.

Review this IRS link, it will help you understand what type of income considered self-employed:https://www.irs.gov/businesses/small-businesses-se...

I've not had a mentor per se, but have relied on many various veteran note investors to fill in the gaps of my knowledge base as I figured out what I needed to know as I proceeded on a deal of so.