Obviously your lease document will spell this out.

Your contract should spell this out in detail.  

If the phone sales reps are to be believed, the Ikea Double Bowl farm Domsjo (I could be wrong on this spelling) sink is the #1 sink for them in sales. 

I do accept checks as an alternative in some situations but the form of payment is spelled out in the lease and most are OK with direct deposit and using those cards I haven't had a problem yet.I had one tenant who insisted personal checks and were habitually late. 

Matt Peterson (may have spelled that wrong) and Scott Malzahn, and they are currently with Loan Simple.

But still these can blow up so the JV agreement is similar to the PPM in that it has to spell out how things proceed when there are disagreements and deal failure.

Spell out clearly what you are advocating the CFPB do, not do etc.  

If you are doing it with a friend its a multi-member LLC  not a single member LLC (unless you just want to do a JV agreement) so your operating agreement should spell everything out.With that being said there are definitely advantages to having an LLC such as financing and sometimes tax related advantages but  if you are not raising money its may not vital to have an LLC though your own situation may vary.

A property I own got one attached to it for some one else that happened to have the same name (although spelled differently).

This is all spelled out in the management agreement and my PM honors it.