Renewed automatically for every 7 years, with only the laundromat having the option to cancel it.

@Tony Marinello income replacement or frequently referred to "Loss of Use" or "Loss of Rents" coverage is often included in the coverages quoted when you obtain an insurance quote.Some companies out there do not automatically include it and that should raise a major red flag to you that they don't have your best interest at hand.If you have other coverage questions or more questions about income replacement, feel free to DM me.Best of luck!

After close we're investing in a new automatic gate, management software, and automated unit entry systems to start.I have a family friend we're working with for private-money type financing, but does anyone else have another solid financing partner for this type of project?

Not that there is any guarantee someone will keep their job, it at least doesn't automatically end after a known period of time.  

If you ask them for referral's they are automatically going to think you are wasting their time and will be a headache to deal with. 

@Zachary Jensen I think just inflation in general. 20-year average inflation rate is 2.32% so I'd at the very least automatically increase rents at a rate of 2-3% per year.

@Julie Toh Maybe the reason for the confusion in the poster’s mind....in the US, you can eliminate PMI automatically on a conventional after the equity exceeds 20%, when other conditions are met, without having to refinance.

A common way to do what you're looking to do is to have a different bank account for each LLC and set that up in your one account in the landlord app –– so that the money for each property automatically flows to the appropriate LLC.

To your question as to setting up automatic payments… 90% of our tenants have a bank account (free) or credit card (3% fee)  linked to the application where they have individual logins, and they have to press one button to pay their rent.  

(Not legal advice; just relaying my own experiences & understandings)When a borrower files a Ch 7 or Ch 13 bankruptcy, there is an automatic stay against all creditors from collecting on the filer's debts.