I am willing to bet more than 80% of the people trying their "luck" at REI fail, miserably.This obviously tells you something truly is wrong with this niche/model!

So 1st of all, I should say the reason I bother to point all of this out is I think biggerpockets is a great value, I’ve met multiple people I consider good friends from this site & hate to see it ruined, to be frank I think since around the pandemic bigger pockets has increasingly been on of the bigger although certainly not the only purveyor of what I would basically consider real estate grift, the no money down buy 10 rental properties, just the other day you guys had Dave Meyer who is truly one of favorite real estate commentators on instagram promoting some program to invest in real estate with no money down and no assets, I know Dave likley doesn’t believe any of that and the social team justprobably made him do that, I think the push of  sub-2 is a scam that takes advantage of old people and very possibly constitutes mortgage fraud, without naming names I think I number of proment bp personalities can be more or less considered grifters promoting their own stuff, while obsetobly working for bigger pockets, I think a key part of any website is basic editorial control and that bp has failed at thet, sorry if that is harsh but I say it because I care lol.  

The risk is that you may have to foreclose on the property if they fail to make the payments. 

There are quite a few action items  most real estate investors fail to implement that are far more helpful with respect to asset protection than merely creating an LLC.

According to the agreement, the deposit must be returned if financing fails.

The tenant fails to pay their last month's rent and leaves the place needing new flooring and paint.

What happens often is they failed to take into account standard market appreciation for the area.  

If you fail to follow the rules, you may open your personal assets to a lawsuit.

However, in all those early discussions they failed to mention the fact that the property being owned by an Irrevocable Trust would be a barrier to them lending to me, and I'd naively assumed that the Trust would be treated similarly to an LLC, etc.So here's the situation.

You are better off waiting until this renter is out, cleaning the place up, and then showing it vacant.Your lease should include something about the tenant maintaining the property, you should inspect every 3-6 months, and you should have consequences for tenants that fail to comply.