The participants should contact a knowledgable insurance agency specializing in investment real estate.The only person or entity needing to execute documents for a future refinance or sale is the buyer.  

You can review your HOA's governing documents, also known as the CC&Rs, to understand the proper procedures.

I have my own lease and handle it with a paper document, that way I can walk the tenants through the property on move-in day with a move-in checklist and a short tone-setting discussion of what I expect from anyone who rents one of my properties.

@Charles Perkins is absolutely correct about "collecting all receipts, properly tracking all income and expenses and your basis for all assets properly documented and recorded."

., property management companies aren’t legally required to carry general liability insurance, but it’s highly recommended for protection against bodily injury or property damage claims.

My latest blog - linked here  "UNDERSTANDING FLORIDA'S EVICTION PROCESS AND LAWS"  provides a comprehensive guide to understanding the legal requirements, timelines, and steps involved with Evictions in Florida.

A large group of RAD investors is beginning to form with the intent of pursuing legal remedies.

Their legal department had our paperwork and continued to call our legal department to explain the instructions!

In this case, a DSCR loan will be much better since you can do a cash out refinance with no seasoning requirement as long as you have documented rehab on the property.

.❌ Legal Risks – Chicago has strict landlord-tenant laws.