Of course, we all responsible for our own torts but only the LLC is responsible for the torts of its agents.As for the second, there are only about 20 monetary numbers to be entered in Turbo Tax on a single unit rental property 1065 so it always seems to me that the $3500 would be better spent elsewhere.

In reality, he’s managing your investment, and part of that responsibility includes transparency and accountability.At the very least, you should be getting invoices for any repair over a certain amount (say, $250 or whatever threshold you’re comfortable with).

Hey guys thank you so much for your responses I truly appreciate the time you took to respond with such great detail.

Rodrigues Thank you for your detailed response, sir!

I do believe college has its perks which is why I'm most likely going and with these responses so far I'm even more sure now.

I was hoping for some idea to secure the Promissory Note but it seems that's not available.Thanks for your response. 

Again, I speak from experience.Thank you for your responses and experience.

The idea is to leverage pre-existing networks in a way that builds instant credibility and gets responses fast.If you want to implement this strategy, here’s a link to the exact resource we used:👉 Spreadsheet Link Here (just make a copy for yourself)I also recorded a short video walking through how we set everything up, but since BiggerPockets has rules against sharing that kind of content, feel free to DM me if you have questions on execution.Anyone else using creative co-living marketing strategies that are working right now?

Hey man, appreciate your response! 

TLDR version: if you switch to default tax settings, you'll be responsible for remitting ONLY the 1.75% county tax out of the payout.