Ask for its breed, weight, and name, and have them attach a picture.- Make the application part of the lease, with the stipulation that if they've lied in the application or in the lease, they can be evicted.- Tell them they have to provide documentation of the animals service / emotional support (as allowed by your local ordinances), and that they have to provide documentation that the animal is current with its inoculations, etc. as well as its local license before you'll permit the animal in the unit.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.

Supplement this far simpler entity approach by ensuring you have appropriate types and levels of insurance, you operate your business in a manner in which your conduct is not considered an exclusion in your policy, you work with licensed and insured vendors, you execute contracts with indemnification clauses with these same vendors/ require additional insured status &  maintain appropriate licensing and permits.

There are pros and cons but i believe for most properties the cons out weight the pros.  

If you can't manage what you currently have, you won't manage additional income from investments.

There would potentially be some weight issues with the 2nd+ floors of some shopping malls, depending on what the potential tenant wants to store in the upstairs unit. 

For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.

So you have to weight risk to reward.. and sometimes we have to eat one that we bought it happens..

Be careful about feeding additional capital into syndicates with short-term loan maturities if the only plan is to negotiate lender maturity extensions for another year. 

I enjoy college football, video games, and lifting weights. 

But if those payments feel like dead weight, Dave Ramsey’s “debt-free” mindset could be worth revisiting.Here’s a quick story to illustrate.