Day two was a hard sale on their coaching programs that started at $50k and went down to something like $15k (no, I didn't sign up). 

Legally, the GPs take on the liability of the project including things like signing on and qualifying for loans.

We do have a servicer.I finally had a conversation with my JV and said just foreclose since the borrower would not return calls, emails, any form of contact.Borrower did response when a DIL was presented (oddly enough) and agreed to a DIL but has yet to sign the papers.

Cheap bandit signs (only where legal!)

Not just in the setup, initially, but separate bank accounts and properly signing all documents as a member of the LLC, even if you post on your personal social media accounts about a property owned by the LLC, if someone sues you, they will try to use all of that to get to you personally.  

I recently looked into doing docusign route, but was unsure if I could have the notary sign after the tenants have signed electronically. 

For example, if you use Hospitable, you'll need another solution for background checks, lease signing, and monthly rent collection.

You can also ask the tenant to sign an estoppel, which essentially has them verify the rent they are paying.As for expenses, the main areas where they can go awry include property taxes, which you can determine on your own; the mortgage, which you can also calculate; insurance, for which you’ll have a quote beforehand; and utilities, for which you can obtain the bills from the landlord.

Your tenant was abled bodied when he or she signed the lease. 

I then sold the “business” (equipment, name, signs, goodwill, etc) to an operator for $50,000 cash, and the operator signed a five year 3N lease at $3,000 per month.