The Left must resist the urge to “help” with short-sighted, counter-productive policies like rent control.

This is why you need to do a ton of due diligence on them and make sure they have skin and the game and something to lose.

So the short answer is...Yes, he can still take you to court, but his first recourse will likely be to place a lien on your property.

If they’re facing a short-term financial hiccup and you feel they’re otherwise a reliable tenant, you might consider setting up a plan for them to catch up on what they owe.

So you must buy 3 bedroom or less and you can only rent out 2 of them. https://files.lasvegasnevada.gov/business-licensing/Short-Te...

Unless you absolutely love flipping I have often seen it is a means to generate short-term capital that you can then put into rentals (aka long term wealth). 

@Rick Soto,Both options have their pros, but here’s a way to think about it given your plan to move in 5 years:Option 1 (10% DP, 2-1 Buydown): This gives you lower payments for the first two years and saves you cash flow short-term.

Nice thing here is property maintenance/expenses is turned over to the tenant/owner and you're out of the landlord game, but still get monthly income.  

You need to drive short distance on private street and then up ~150’ driveway.  

Rates will be a little higher (5%/6% range) but the cool thing is that you can often find these on 30 year fixed terms unlike the short term balloons the local bank would offer.