You don't even need an LLC for a rental property, especially if there is a mortgage on it.Make sure you have the correct type of insurance as your number 1 priority.My partnerships have a separate tax return and it issues a K1 for my personal return.

Partners like that you bring up contracts to correctly form partnerships. 

Your instincts are correct regarding used furniture, unless you have someone you have rapport and trust with already it will be a major hassle coordinating picking up used furniture.

Which all investors are to a certain degree. id say you are your going to waste more money in additional interest payments alone vs paying a licensed architect never mind the exponetially maddening cost of wasted time/ additional interest payments die to a work stoppage, additional labor cost to redo whatever you have to take apart to add whatever building department issue you didnt do correct the first time. 

Could be a cool asset if marketed and managed correctly. 

This is an area that could create a huge issue if not done correctly so I wouldn't advise doing it yourself as the 3115 can be a pain lol.

If that is correct than your insurance company is just looking to get out of the claim.

It is also important to know how to sign documents correctly. 

correct, it is not foreign income. 

I want to make sure Im prepared with the correct documentation to rent out my condo and would appreciate all opinions if im missing anything: - I have the rental application- I have my rental property agreement that I will have the renter sign and make copies of and provide them a copy.- I have the statement of condition that I will have the renter sign and make copies of and provide them a copy.- I will have them provide a copy of their tenants insurance for my records. - Will provide receipt for first and last months rent.- Im thinking of not charging security deposit because of all the strict MA laws and just using the last months rent as a sort of security deposit, thoughts?