I'm interested in renting out rooms and would like to know what provisions are people including in there leases to protect themselves and their tenants.

With conventional financing on a primary residence, you can put as low as 3.5-5% anyways.LLCs are more for liability protection over tax purposes.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

LLC is mainly about liability protection.

And on top of it, you have a life insurance to protect your family in case of early demise.If it was so bad, why would so many sophisticated investors using them?

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

A person can lower there cost of ownership, help protect and defend the asset, help with maintaining it AND your not just some PM, you've got skin in it, you suffer if they suffer, you win when and only if they win, your interests are aligned. 

I suffered from shiny object syndrome also until one came up and slapped me in the face.

In my research, default rates are pretty high amongst 401ks loans. 5) If you leave your employer and want to rollover your remaining balance to an IRA to be able to invest in real estate, known as a self-directed IRA, you have to either A) Payoff the loan first, or B) When you rollover funds, the loan balance will be immediately distributed to you, thus taxes and penalties, and you forfeit all that tax-advantaged money back in the account. 6) 401ks are generally covered under federal ERISA rules, which affords you additional creditor protections, from outside of the 401k judgments.

Good old Uncle Sam.For most folks in the US, taxes are anywhere from 30-50% of their gross income every year.To protect yourself, you should do 2 key things.1.