The situation you are ultimately trying to avoid is the one where: the borrower defaults, you start foreclosure, the borrower fights the foreclosure and says they didn't understand the loan / could never afford to pay it / you didn't follow the consumer rules, etc, then the judge asks if you followed those rules and you can't show that.... 

I have a few follow up questions:1) What's an example of "get referrals and cross reference them to get as much accurate information as possible"? 

I do the same tropes of things in the Tampa Florida market.  

The discount on the full hurts!

Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.

Apparently this has happened 4 times in the past with the most recent 2 incidences happening last month. 

I’d offer to sign the form if I was allowed to cross out everything between brokerage firm and during the terms.

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

@Venka Pulla It’s frustrating when a property manager isn’t meeting expectations, but transitioning to a new property manager is typically straightforward if you follow a few steps:Review the Management Agreement: Carefully read your current Property Management Agreement (PMA) to understand the termination process, including any required notice period.

3) Is there an official IRS form where these hours are documented, or would an excel file suffice ?