It also means that your renters will want to vet their subletters carefully to ensure they get their security deposits back, etc.

I like the added security with doorman and onsite maintenance but know the assessments can be high.

You could also consider a small security deposit as well.

I know I may need to start securing that first in the future, but I am here now.

I set everything up as I understood it in this thread, with the security deed to my LLC, which i am sole member. 

Well, last night during dinner I officially got "served" foreclosure papers. 

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.

He just got a social security number and has signed the lease.

I've seen a lot of posts about folks not being able to secure financing on their property.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.