Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.

They will have better recommendations for any title companies or lawyers there.

If you manage to get this off the ground and do some verified - meaning paperwork is in your name, or company's name, etc - projects that turn a profit, and you build some capital in a bank, you should be able to go right to that lender after a year or two and start a relationship no problem.  

I spoke with the title company who is still helping us wrap up the set-up of a servicing company, and she confirmed that they would be responsible for the principal / interest for Nov and Dec, while we are responsible for the escrow shortage balance (as agreed upon).Not sure how it was missed - not my favorite title company to work with.

This reminds me of the discussion around pricing things at $x.99 instead of $x+1.00.EXAMPLE: $4.99 instead of $5.00Everyone "knows" that the price in the example is basically $5.So, why do billion dollar companies, spending more on marketing departments than everyone's combined income on this thread, STILL use the $x.99 pricing format?

Another work around that isn’t discussed much is working on a strategy with your insurance company to protect your other assets in the event of a claim.But also, it wouldn’t be a bad idea to consider getting the financing into your LLc name with a community bank and pulling cash out if you have substantial equity.Right now, since the loan is in your name, it shows up on your personal credit report.  

Is there anyone here that is currently working for Ale Solutions or any other company similar working as a relocation specialist?

Check out InvestorFuse online to take a look at our full pricing breakdownWe were the first company to do a turnkey Podio buildout for wholesalers in 2016- close to unlimited customizability, but robust, more challenging and difficult to train teammates on actually using on a day to day basis which is the main point of.

Will they "check themselves" from bad behavior when they see a professional company with professional services, legally reviewed lease, etc. managing their day-to-day?

In my case, I have residential rentals in one LLC, commercial properties in another, self storage in a third, and my real estate company operates in a fourth.