I thoroughly enjoyed this podcast and will be having my 13-year old son listen to it as well as there is a lot of good life advice in there. 

Thank you Dave the way your broke that part of it down really helps me get a thorough understanding on how to try and structure the deal like this.

Read your laws thoroughly, and you will know what you need to do.

So far, I have thoroughly enjoyed the books, forms, etc.

I thoroughly screen all applicants as every landlord should do regardless of lease choice.

He got thoroughly dragged through the mud on BP on this one.the NPN space that gets those re performing then sells the notes as performing notes is a little the same.. not quite but the risk to the new note buyer who does not understand the note business is quite high..  

I plan to thoroughly vet each association, but there's only so much that you can do to ensure they stay on track.- Use restrictions and potential profits during the busy season may prohibit us from getting the best use out of the place.- Appreciation will likely be better on the beach.

Have a very thorough operating agreement. 

I've used Al Pirro, nice guy, seems thorough and like to talk to his customers. https://www.zillow.com/profile/alpirro/

(e.g. new mechanical systems, HVAC, hot water tank, flooring, paint etc) But NOT thoroughly rehabbing it (e.g. new kitchen w/ granite, new bathrooms, new plumbing, electrical, windows etc)Personally, I have always rehabbed my rentals nicely, and asked for higher market rents.