Typically, you’ll need a promissory note (outlining the loan terms, interest rate, repayment schedule, etc.) and either a deed of trust or mortgage to secure your interest in the property.

The owner of each property (you, LLC, trust, IRA, ect.) would have to execute a management contract with the Master LLC, so the Master LLC could legally act on behalf of the property owner(s). 

They will provide detailed pro forma's on properties, do analysis on your behalf, have trusted vendors, and put deals in front of you.A crappy RE agent will put you on a drip campaign and tell you to get a hold of them when you see something you like.  

Trust me, an extra couple of weeks of vacancy to find the right person is much cheaper in the long run than missed rent and eviction costs; and that doesn't even include the extra stress and anxiety from it. 

Never trust, but verify.

If the prospect puts up a big wall and is dismissive about their record, that is more of a red flag than the record itself, but if they were straight forward and honest with me, I will know I can trust them.

Starting slow is a smart approach, and you can consider house hacking or investing in REITs (Real Estate Investment Trusts) to get your feet wet with less capital upfront.

This approach allows you to ease into being a landlord while building a trusted team.

It's not just about the numbers – it's about creating win-win scenarios where both parties can sleep well at night.3 principles I've learned after 4 years in real estate investing:1) Transparency builds trust. 

I'm looking to form a revocable trust to have all my assets in it, I understand that it does not protect me as an irrevocable trust would.