Additionally, there typically are additional state protections (outside of the agreement) based on where the fund is located.

She works part time because it's a good balance of her interests, and protection for the family.

You have to protect your assets and your family.Yes to all over 18 years old.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

You do not need to have it under an LLC to take depreciation, the LLC's purpose is to protect your personal assets should you get sued.  

If you choose to play with fire, that is your perogative.For your reference, here is a good primer.Here is the key paragraph:Rental discrimination is when a landlord or property manager treats an applicant differently based on the applicant’s inclusion in a protected class.

Again, this is with commercial/investment property; owner occupied or consumer loans may have legal issues rendering this technique non applicable.  

Plus by going with you, they won't have the benefit of an agent's errors and omissions insurance, the support of their brokerage, and the experience an agent has in protecting their clients from everything that can go wrong in real estate transactions.

-Legal Protection: A real estate attorney should draft the seller financing agreement to make sure your interests are protected.Final ThoughtsThis might be a pretty awesome first project if you can work out some sort of low-down, seller-financed deal with sweet terms.

There was an article published in Sept 2024 that showed the average consumer would save over $10,000 by working with a broker vs a direct lender over the life of their loan.