A Beneficial Owner is an individual who either directly or indirectly owns or controls a company.

(long response ahead)First off, I just want to say I see you—and you're doing the best you can under some tough circumstances.

Hi @Nathan Gesner, many thanks for the comprehensive response and great advice.

If you've sent notices, allowed the required time, no response, no activity, no water, no rent, garbage left, no sign of anyone.?.

If piti is $1100 and rents range from $1000 to $1200, conservative underwriting would use the lower of the rent range, we have $1100 rent - $1000 PITI - $120 PM  - $50 (vacancy) - $300 maintenance/cap ex - $50 misc (tax man, asset protection, book keeping, utilities that are not tenant responsibility such as for a slab leak, etc) is about negative $420/month. 

While the ordinance went into effect on October 10th, the large response to the Call For Action yielded an initial ‘grace period’ of enforcement until November 9th.Below is the summary of the ordinance.

I mailed over 3,500+ postcards to private individual note sellers in TX.

Please add supporting links, documents or links to sources etc to your response if possible.

The staff are super responsive and helpful. 

This means that if anything goes wrong with the property—like a tenant getting injured or a lawsuit related to the rental activities—the LLC, not you personally, would be the one held responsible.