I’ve never had this specific issue but mistakes like this are pretty common. 

Now consider this: all the groups people are spending fortunes to target—foreclosures, absentee owners, probate leads, tax liens—what do they have in common?

@Jin ZhangI would only measure pros and cons against a goal.

It is common area and I assume you excluded it and would be entitled to be a guest of your son.

Here's some online software options that you commonly see recommended on BiggerPockets.

Or free up more of your time depending on your goals?

This is a straightforward and common approach.However, make sure to document the change in the lease renewal or addendum, specifying the new security deposit amount.

I'll throw in my 2 cents on common differences I've seen in my career:CDFIs - Because of their subsidized financing structure, they have the ability to be a low cost lender (and sometimes provide grants).

Starting out, it’s common for new investors to own rentals personally to access better loan terms.You will most likely have to buy it in your personal name and move to LLC later.This post does not create a CPA-Client relationship.

I have heard that it is common practice that private money lenders collect a monthly fee thru various methods, I'm trying to determine what those methods are.