If you plan in getting conventional financing, they will not allow you to use the LLC.

If you plan to live there in the winters, you might have a hard time doing long term rental outside of that and finding a new tenant every summer.

These platforms are affordable and offer comprehensive reports (credit, background, eviction history) without you having to handle sensitive information directly.Verify Employment and Landlord History: Your plan to request pay stubs and a landlord reference is solid.

@Van Lam - I think your plan to finish rehab and then rent them out a higher market rents makes sense to do first.

In some places there are a few days grace period to allow for rent that is sent via mail (which I don't get because if it is due on the 1st, plan ahead). 

Ofcourse I am planning to consult a lawyer first. 

The tenant refused to communicate about his plans to vacate and finally left the key under the mat on June 2 but made no communication, so we had to make 4 trips looking for the key.

If you're planning on only living there 1-2 years, rent may not change THAT much, so calculate what the rent would likely be right now for your side as well. 4.

I think by waiting to last minute to put things together you miss items and year end tax planning becomes problematic.

Or should I just have them install another meter for the third floor to avoid any potential issues going forward.