The concern I have with this one is that they charge errors and omissions insurance which is over 200/month but they said they make it 100 with the rest drawn from commissions.

So with that reaction and the first rent payment being 1 day late, which was an address error on his part, we decided to go with a 6 month lease.

@Mark SpritzPlease send a screenshot to [email protected] so we can check the error message.

As my post header states, I'm a rookie.

As I said, we are rookie landlords and only intended to rent for a year or two, we do not have any contractors on our contact list. 

I believe you are a poser, bipolar and narcissistic (always claiming to be the best of the best, even though the contracts for both deals were riddled with errors we had to amend, which ended up being incredibly embarrassing, then telling me to 'fix it Marni').

I disagree that the 1065 would be the more complicated route.Relying on each owner to report, accurately, their share of rental activity on Schedule E, plus issuing 1098s to the parties not named in the mortgage would be more complicated and more prone to error, especially if it's being undertaken in a DIY manner..I concede a 1065 would be more expensive than DIY tenants in common, however it frees up the owners to pursue higher value activities and provides them greater assurance everything is being done as accurately as possible.If we want to say error is being mitigated by a tax pro doing the returns of the owners in a TIC situation, sure we can say and all agree to that, but IMO the compliance fees for a pro in this situation for all individuals would be higher than that of just engaging a pro for one 1065.

There's a lot I'm not putting on this post here but I have not yet invested yet and am open to what you experienced investors have to say to the rookies trying to start outThanks!!

Next i would have to say all these older houses have lathe and plaster instead of drywall which in some respects are easy to repair in the case of smaller dings and holes but when you get whole walls that are in need of repair we found it easier after much trial and error just to tear it out and drywall it. 

Dispute any errors on your credit report.