@Paulette Midgette I haven't looked at that statute in a while but I would check to see if the Home Improvement Consumer Protection Act ("HICPA") applies to this situation.

Additionally, there typically are additional state protections (outside of the agreement) based on where the fund is located.

What many investors do is that they will purchase a handful of REI props in one market and then move on to their next/different market to diversify their portfolio and for added asset protection. 

I don't know which nearby state you're considering (PA is probably the most attractive) but local municipalities will sometimes enforce extra red tape and/or protections for tenants beyond the state-norm.

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.

You have to protect your assets and your family.Yes to all over 18 years old.

If you choose to play with fire, that is your perogative.For your reference, here is a good primer.Here is the key paragraph:Rental discrimination is when a landlord or property manager treats an applicant differently based on the applicant’s inclusion in a protected class.

She works part time because it's a good balance of her interests, and protection for the family.

You do not need to have it under an LLC to take depreciation, the LLC's purpose is to protect your personal assets should you get sued.  

@Brice Alef-Torrisi To manage finances for multiple properties, maintain separate bank accounts for each property if held under different LLCs to avoid commingling, which could jeopardize liability protection and complicate tax deductions.If properties are under one LLC, using a single account is fine but requires detailed record-keeping for each property.