Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

You will get the deposit when the transaction settles and you don't want the tenant coming back later saying it was more.Try to get pictures of the property before the tenant moved in to establish move-in condition.

Hey @Bradley Miller - while a tad late on the reply, I figured better later than nothing!

While most tenants are great, occasionally we come across difficult ones who create challenges like frequent unjustified complaints, non-cooperation, late rent payments, or lease violations.

You can learn from the sponsor on the deals and then go out on your own if you desire or later decide you are happy to keep investing and not put in the work yourself.

But if you believe rates will go down, it’s a good time to find deals and refinance later at a lower rate.As for me personally, I’m also reevaluating the market to figure out the best investment strategy.

If you're still involved then it doesn't solve the problem of the property being a hassle for you IMO, you're just kicking the can down the road and could end up dealing with much worse problems later on (dealing with the time, expense, and headache of having to take the property back, then going back to square one with the property which will most likely be in worse condition than it is now). 

I recently took over the management of the rentals and a couple of months later the tenants in one of my units decided to move out.

A verbal agreement is fine to get the deal figured out on the front end, but definitely try getting that deal down on paper sooner rather than later!

With the capital gains tax laws surrounding selling a primary residence you can make a profit and not worry about the taxes 3 years later.