The bigger issues that need to be addressed by the operating agreement are how you deal with disagreements. 

Follow the step for the deposit-even if it is to send a registered letter to their last known address stating that the deposit was used for outstanding rent and whatever damages or cleaning was needed (itemize it). 

Back in 2022, we tackled a property we affectionately called the "Scary House," and trust me, it lived up to the name.

I did not do a separate criminal background check as I trusted the info from Zillow (Big lesson learned never to trust the Zillow data again in life).

I've unfortunately seen too many examples where a Canadian investor trusted their Canadian accountant to handle all the U.S. compliance and it cost them a lot of headaches and money. 

For clarity; as with a trust, lenders do not exercise the "due on transfer/sale" clause when real property is transferred to the SAME individuals in an official capacity (e.g.

Consider 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.

I'm lucky to have a motivated client/investor that wants to work with me, and I feel a tremendous amount of responsibility to take care of that trust and investment.

Get a hold of a trusted lender and run through the options with them as well.

Trusting what the franchise tells you is foolish.I can tell you this: there are companies selling leads to real estate agents all the time.