When you buy,how do you protect your investment, other than the formal agreement? 

Paperwork to be signed is mailed back and forth and we only do our own lease as a formality and an extra chance to go in and check out the apartment to see if we need to fix something.

You want formal milestones, i.e.

**"Cash for keys" is a strategy that landlords can use to encourage a tenant to vacate a property without having to go through a formal eviction process.

@Marc ShinI would probably speak to them first on the phone or face-to-face and then send them a formal letter.

I have done a formal inspection with the lease but I give the tenant a checklist to fill out with the least when they move in so they can document anything that is broken or needs repair.

@Luis Herna, while I am not overly certain about TX's nuances, but they sound similar to Ohio, if you are collecting a commission, whether a fixed amount or a percentage of sales price, you are brokering deals and require a license.In my market the grey area solution is, like Daniel noted, actually close on the deal in a dual closing transaction, or formally assign the contract with an assignment fee tied to it.  

Getting a 2nd is extremely difficult and for those who buy seconds or are considering them here is an example of "what the guru does not teach you"In Georgia, a non-judicial state, a foreclosure is not done through the courts.

A larger sum might provide more leverage to ensure they leave on time and in good condition.Rental Agreement: You could also consider having a formal rental agreement in place with the seller for the two-week period.

I definitely would want the mail to go to the correct place.If someone wanted to sue you, the fact that you ignored changing your address would be a good argument that you are not maintaining corporate formalities, potentially having the protections of your LLC ignored.Most states have annual filing requirements for the LLCs so that would be a good time to update it.