To address this, request documentation, update the lease, address rent payment, consult an attorney, and maintain a positive tenant relationship by communicating clearly.

Increase Your Cost Basis: Document and include the costs of significant improvements made to the property in your cost basis.

I currently only have 1 duplex, however I want to set this up right so it will work for any size portfolio.Currently I haveHome folder>multi family/single family/legal documentsInside the multi family I have Name of property-> general property maintenance/first floor/second floor Inside of first floor (the one currently rented)I have, pictures (before and will have after) / lease documents / a spreadsheet with each month, what day rent was paid, if it was late, if late was fee paid?

I'll shoot you an email. 

Hi Taylor,I'm not on BP very often anymore, so please feel free to email or call me. 

I still get emails from turnkey companies and one of them (Martel Turnkey) said "stress free investing".

Once in a while they will send an email back with very vague reply .

Both times the owner's insurance company ended up covering us and NOT the owner (their client) and the owner had to pay our legal fees.Your PMC doesn't seem to be on top of this and you state is already blaming you, so you may need to document that they are the problem, not you.

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

I recommend you do a google search for "real estate seller financing" and educate yourself through some blogs, then have a conversation to see if the two of you can agree on terms that work for everyone.Be sure to use an attorney to draft the documents, not the same one the seller uses.