The staff are super responsive and helpful. 

Hi, sorry for a very late response.

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.

I am excited to be part of BP and look forward to growing and learning from experienced individuals.

Quote from @David Felt: You are responsible for maintaining the home in its original condition.

I also found Brad Sumrok's apartment investing program ($35K for you and your spouse or $25K individual) which is also based in Texas. 

Thanks for the response.

I have the reserves to weather defaults and my team knows their portfolio level numbers, so it's just a matter of getting note investors and lenders on board.15 years payments and 50% LTV are the limits we're seeing for each individual method by the way.

Assuming it's written in your management agreement somewhere that states the owners are current on all financial responsibilities related to the property, does anyone require them to actually provide a current mortgage statement, HOA payment record, taxes paid, etc..... at least at the time of the original management agreement signing.Recently had a new owner sign the agreement, only to find out after we had secured a new tenant for them, that they were in financial distress to say the least (inquiring about bankruptcy) .

You have a leg up on most in that you understand regiment, organization, responsibility, and dependability.