Not 1 time has a standard rental poo-decorated a unit, not 1 time have I had dead bodies at a standard rental. 

Respectfully,Zach The best bet is likely to create a new LLC that lays things out in a straightforward but legally strong and standard operating agreement, etc. - LLC doc sets are fairly cheap and easy to create these days (with limited assistance from lawyers) and its much much better to have that cover bases on arrangements like this - it will also fit nicely with financing options - whether you take on debt from a lender in a co-equity situation like your first plan (refinance loan to LLC post rehab?)

Then Tenant A moves out, leaving Tenant B in the rental with no knowledge of who they are and no written lease agreement with them.Best practice is to name every adult on the lease.

A standard 4plex sells for $1M but rents for $4800 with a $6k+ mortgage.

Here's a breakdown of the key implications:Background of the NAR Settlement:The lawsuit against the NAR focused on claims of anti-competitive practices, particularly related to commission structures.

I would do these to current code standards, and other smaller alterations all to code, without gaining permits.

These inspections are often required by local municipalities to ensure that properties meet certain safety and habitability standards.

The others above have offered several very practical solutions. 

I just bought an off market condo $25k below market value, fully renovated (by seller), with in place tenants who raised their rent to my standard before I closed giving me $300 per month positive cash flow. 

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