A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Washington inherited two large estates; the first was the estate he got possession of when marrying Martha; however, unlike most husbands of that era he didn’t “consume” the ownership of Martha’s estate into his own; he operated it in a “trust” capacity for the benefit of Martha and her daughter by a previous marriage.  

Many landlords disagree with this policy but that is because they fear having to protect their investment.You have a lot of money tied up in your investment, always put yur needs first and reject any applicant that may place you at risk.

There is no other protection or time bound restriction.

I know the question is mainly focused on what sorts of special protections you will need as a landlord with a lease as opposed to a longer-term AirBnB booking, so let me answer that first. 

When financing a large-scale fix-and-flip project, assessing and managing risk is crucial for success.Risk Management StrategiesContingency Budgeting:Set aside a contingency fund (typically 10-20% of renovation costs) for unexpected expenses.Time Management:Develop a detailed project timeline to keep renovations on track and avoid extended holding costs.Partnerships:Collaborate with experienced contractors and real estate agents to mitigate risks associated with repairs and market positioning.Insurance:Obtain comprehensive insurance coverage, including builder’s risk insurance and general liability insurance, to protect against unforeseen events.Exit Strategy:Always have an exit strategy.

An LLC is cheap and does offer protection.

When our affiliates are using the company for business cards, door knocking, managing leads, performing acquisition, or disposition with our company does the LLC provide them protection?

I ask this question because I suspect at least 90% of people who post on BP about entity formation or transferring properties from their personal name to an LLC cannot articulate the risk they believe they are protecting against.