In my opinion, you want something that will protect you, but is also understandable for everyone signing.Keep in mind that at the end of the day, here in Illinois, the state is generally contractor-friendly in the court of law, so making sure you document everything clearly with payment will protect you against any potential mechanics liens.We have had several projects that did not go perfectly here in Chicago because we overpromised and didn't keep tight enough documentation. 

@Warren Barton a PMC should pay the legal owner of the property OR that owner's lega representative.If the properties are in your personal name, to have the PMC pay your LLC, you'd need to name your LLC as your legal representative and provide acceptable documentation to the PMC directing them to pay your LLC.They'd then 1099 your LLC via its EIN.

I know the Guide isn't law, but in my experience its not the law that is solely enforced, but also the derivative regulations, formal guidance documents, as well as case law history.

I like to hand-deliver it and set an appointment for my first inspection so I can start documenting the condition of the rental from that point forward.

This was not because of a dumb document, but because I valued the relationship.

Good news is that he historically has paid on time and when late, paid the prior months + the penalty.

An arrest was eventually made a few years later: https://www.fdle.state.fl.us/News/2022/May/FDLE-makes-arrest...   

If anyone has done this and would be willing to share lessons and agreement documents, I’d really appreciate it.

What’s worse is that there is no consistency among the insurance companies.The ACORD forms and other Evidence of Insurance documents are notoriously cryptic and difficult to read.

You have to really know what you are doing and cover your behind with documentation if you want to try this.3.