I've had friends that lost all back rent to a property management company that went bankrupt. 

Friend How did you finance this deal?

@Collin SchwartzMIH my friend.

We are looking to rent our primary house and move to a slightly bigger house in the same town because my kids do not want to leave their friends. 

It is my LLC to his LLC , a friend that Ive known for 9 years working many notes with ,not that close a friend.

I have a friend who has vacation rentals in that area.  

•My California LLC serves as a holding company for my out-of-state LLCs that own the individual properties.This structure keeps things organized while ensuring compliance with both states’ regulations.As for your bonus question, it depends on how the property was purchased.

Often times these approved vendors are more expensive than the individual you can contract with on your own because they know they are the only show in town.3.

I have spoken to my neighbours but they do not know who the HOA board members are ( it is a large complex with 100 + townhouses).It is very strange but it has not proved to be a problem in the past as the management company deal with the properties externally ( eg painting ) and the common parts and have always done so competently and individual oners deal with the inside of the properties.They are now proceeding with the painting without doing anything about the termites.

Hi friends!