As private money lenders, protecting your investment starts with careful borrower vetting.

Also should I send him a notice at one of his old residences ?

This is when you buy a primary residence (1 to 4 units, the more the better) which you can usually get for a very low down payment and get the best interest rates on and then rent out other units and/or bedrooms within your unit to pay for the mortgage and other expenses.

An LLC does not provide much legal protection, it acts as a legal firewall to separate assets.

(We do not know if conventional rates or DSCR rates will be better for you once your rehab is completed, so best to protect both options). 

Not many would risk everything they own if that was a requirement of investing in a business. if you’re referring to FRAUD”, then the individual committing said fraud can be sued individually, and  can not claim remote entity protection since they and not the entity, or they in addition to the entity are guilty of fraud.  

So, I refuse to invest in syndication without protections like voting rights on certain conditions and more. 

The LLC in this case is more just asset protection and not having your direct name listed on the county tax record.

I am new to real estate investment and planning to start ramping up long term rental properties in 2025, however my first two primary residences were both converted into MIL's and rented within months after closing which effectively followed the House-Hack tactic (we currently rent our furnished basement to primarily traveling nurses for 3-6 months at a time which covers 70% of our mortgage).

Put the profit towards a new Primary residence and ~$50k towards a rental property.2) Rent it out and eat the cash flow loss, hoping rents increase.