Have the tenant sign off on a move-in checklist to avoid disputes later.If your not using a property management company, you will also want to establish a plan for handling maintenance requests and emergencies.

An Architect can look out for your best interest in the project plus can bring all the Engineers necessary for the build (Civil, Structural, MEP, Sprinkler/Fire suppression, etc.)As far as the build itself, if it's in an established city or town on a tax lot, then you'll need to go through the design and permitting process, gain zoning approval if necessary, and then build up from there.

Call the cops the minute someone breaks in, then they won't have time to establish themselves.

Different companies have different fee schedules...with checkbook control, it's generally more to establish and less over time...do your homework and decide which is best for you.   

Plus, the seasoning of the company can make it easier to secure better credit terms or refinance quickly since lenders often view established entities more favorably.One of the biggest advantages, though, is the flexibility in negotiating the down payment.

Most likely I'll be establishing an LLC.

To make sure the investment satisfies your financial objectives, establish your target profit margin.Decide how much money is needed overall for the transaction.

the answer is because this is what professionals do and it's the price of admission to really establish your real estate business properly from the outset.Having a lien, loan, etc. on the property does not indicate personal liability exposure to real property because being the borrower on a loan does not equate to holding legal title on the underlying property. 

We did a commercial loan, 20% down (10% down each)-I leveraged my partner's relationship with his commercial lenders to establish a baseline of credibility for myself and cut my teeth doing my first deal.

Finding an established group that finds a way to get deals done tends to be as helpful as anything as many of us have had experiences of weird and seemingly unnecessary denials.I do like to make sure that its a region they lend to and the type of project that they do.