If I ever plan to use a family member or friend who may not want to be fully involved in the process - what kind of documents would I need to provide that person that ensures their end is covered and could fully explain numbers, process, timeline, and security for them?

Here's another idea.There should be a legal publication in your area (ask an attorney) that has this info too.

No tenants - No turnover, evictions or chasing rent.No liability - No worries if a homeowner slips and falls.Secured - the investment is secured by real estate.Insured - unlike a stock, the collateral (property) is insured.No taxes and Insurance - Homeowner pays and TI is typically escrowed with the servicing company so no need to track.Notes are typically more liquid than rental real estate.Consistently higher returns - Typically double digit.Scalable - easier to manage several hundred notes versus several hundred rental properties.No HOA or COA - homeowners must pay directly.No property management costs - instead we pay a fraction to a servicing company to collect payments.

Do you believe that reviews are the main pillar for securing more reservations for a property that is already listed?

We like the safety and security and less work of the smaller portfolio with low risk.

@Peter Christensen we do a few things that might help you:1) Lookup the owner of the rental property in public records.2) We have a Whitepages account that allows us to look up either names to get numbers, or reverse look up a number to get a name.3) Bank statements are also great!

Additionally, I’ve secured seller financing for half of the purchase price, but I’ve been told this could complicate things further since banks typically prefer being in the first lien position.

Would you charge damages from the security deposit?

In our area there are business administrator (assistants to the mayor) who have more decision making power than others, but the head of the water/sewer or public works department may be able to help you too.

Under IRS rules (see IRS Publication 925 on Passive Activity and At-Risk Rules), when you sell a rental property, all suspended passive losses from that property and the rest of your portfolio become deductible in the year of the sale, provided you fully dispose of the activity and it is not exchanged for another property (like in a 1031 exchange).If you have $100K in losses from your entire portfolio, those should be applied to the capital gain from the sale of the property—not just the $50K from the specific property being sold.