If you are not acting in a negligent way, you do have a layer of protection (though not total protection by any means).

:)now, here's something... when we bought our house 13 yrs ago i knew nothing about remodeling. so when taking the wall paper off on one wall, 4 layers of wallpaper came off and some of the plaster. had no idea how to patch it, so we bought a bhear texture paint in a can that you apply with a special roller. and then we painted on top, so the bumps are smooth.so now, we have one accent wall in the house that's texture and everyone that walks in thinks it looks like art because we added some shapes that do not have the texture. even plasterers have commented on stealing that technique.. :)

And for upkeep between renter, a lite sanding of the current top coat will be enough of a prep for a new top coat.Good luck and remember to wear a face mask !!!!!!!

It can be risky and if you yourself get into a situation where you have a loss of income, having a HELOC can be a saving grace whereas ifyou pull from it for a home and then cannot make the payment they will not allow you to draw on it.For me, all about risk and risk tolerance, - which doing this for me adds a significant layer of risk.

And "good tenant" is sort of a multi-layered concept.  

At the end of the day you need to look at your interest rate, compare it to what you can get in other investments, and then layer your risk profile on top. 

Syndication adds another layer of complexity. 

It's generally advisable to have a guarantor in such lease agreements, as it provides an additional layer of security.

In my situation there is one more layer though and hope your experts can advise.  

You will be be responsible for the transfer taxes equal to the assessed value, plus deed preparation fees and if there is already a loan, that adds another layer of complexity.