All commission checks would be deposited into the LLC, paying general operating expenses (home office, cell phones, business vehicles, client entertainment, etc).

I bet I have installed over 200 houses with countertops and never heard of that one.

Your cash flow might take a hit, but it's never okay to operate as a slumlord, and I do not believe you have that in you from your post.

You need to spell out in your operating agreement what each partners role is and what each will be providing. 

We operate two in that ballpark; each can sleep 22 or 24 with 7 and 8 beds.

@Steven McCutcheon @Anthony Angottiappreciate the advice, also will look into homestyle loan at some point, for my area it seems that all the deals I analyze are showing that single family homes in North Jersey may be a tough bet for my first investment.

If you are willing to do the leg work, contacting the owners of vacant properties is probably your best bet. 

I bet every other year or so that same story hits the news, and then we hear about it in a fair housing notice from the real estate commission.

I can hardly believe they are still operating.

If looking to expand then this is normal and your best bet to get properties without continually using your own $$.