This gives them a place to write down previous LL and rental history so you can call previous LL. 

Oh boy, too much to write here, but my forecast for 2024, as of last September, was for prices for residential to be flat on a national level by the end of the year.

@Nick Cascio- thanks ...its  common to see partners buy using the LLC format .....its also  common to see partners buying in just their own names ....either way you will want to have all the bases  covered  in writing so there are no major issues  down the road 

Every time.I am writing a book that speaks to this very issue.

While you will have more of an interest expense write off, your basis in the property will be reduced.  

(And you can write off all the lovely furnishings!

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

So sure, we could write a note for the down payment and get in for no money down (money down - just not ours).

Dan Mahoney: Thank you for taking the time to write such a great description of the process!

I see you like to do A LOT of writing and analyzing ( not sure why, this is the 2nd LOOONG post I have seen of yours ) .You are incorrect, Toledo and other areas of OH are best for renting.