If you buy it right and have taken precautions where you need to, it could be an incredible opportunity.Good luck!  

In this case the rental license was active as recently as 2022 which is helpful, but it's also good practice to have the License and Inspections Affidavit of Continuous use completed by the prior owner as an extra precaution.

This due diligence would include an initial walkthrough of each property (I’ve only seen _________ so far) as well as verification of all income and expenses.Please take all the time and precautions necessary to fully consider my proposition.

There's still something to be said for investing in your backyard where you can be more hands on but I feel like you can substantially mitigate the risks of investing from afar by taking certain precautions, making out of state investing much more lucrative. 

If you don't want to learn and take the precautions a prudent lender would, might be better off placing your money with those that do. 

No one wants to catch the falling knife and have their asset drastically decrease in value, so major precautions are being enforced.

As a precaution, I do draft a resolution authorizing the LLC to purchase each property and have all members sign each resolution.Cheers!

Its a precaution for us to have it done by us and not have any third party tenant bring their information to us.

I am wondering if you modify the rental agreement with legal precautions/safety/liability (?). 

What precautions should be taken or should I pass?