They should have the option to install a security alarm at their own expense.

Yes, it's secured and if you have to foreclose you can sell and recoup at least some of your investment.

@Abby H.Shifting from house hacking to small multifamily is a great way to scale, and securing a JV partner is all about networking, credibility, and structuring a win-win deal.

Understand what you are investing in....is it a secured loan, unsecured loan, membership interest in an entity that deploys capital like a feeder fund or direct membership interest in an entity that is the deed holder? 

I’d suggest focusing on securing solid DSCR loans—like those from thelender.com, which lends up to 80% LTV, considers STR income, and operates as a direct lender.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Private lenders or even creating a small syndicate with a group of investors might also be worth exploring, especially since you can point to your uncle’s track record and your own experience managing rentals as a selling point.If timing is tight, you could look into a bridge loan to secure the property while figuring out a more permanent solution.

You are VERY easily able to open accounts remotely by just uploading your EIN doc and then once your biz account is open you can open additional accounts for things like holding your security deposits, reserves, etc.

.ⓘ This is not an offer, solicitation of an offer, to buy or sell securities.

Should we pursue a "cheap" rental in order to build rental history in the hopes of securing DSCR loans down the road?