I was thinking - go ahead and sue, when discovery comes into play and they have to testify under oath (for example were they raising money properly and how were they managing money) - many will not want to answer that question while on the stand. 

For me I think it depends on how much money you have invested into the home and for how long?  

I did my research and requote what would benefit both me and the investor, below is the Finalized CORRECT format of the proposal:Listed price on the property: 459,900MAXIMUM amout of money down on the property: $380,000Method of Payment: CASH OFFER from Investor.

He may be way over leveraged or have inherited money…etc

If I were the neighbor, it sounds like I'd be the only one bringing money to the table so you could get something you want.

I’m assuming that you save quite a bit of money.”

That likely means that they are not good with money management which you are likely expecting from him.To answer your question, if you are doing long-term rentals, the LLC taxed as a partnership is likely the go to route.Best of luck.  

@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.

They make their money off of real estate agents, but real estate agents are the worst people to make money off because they are highly unreliable and in and out of the business when the market changes.Their target should be the consumer with higher levels that they can subscribe too for data, since Zillow is linked to the MLS now which makes their data somewhere more reliable.

We've never actually had a tenant use it after reading the addendum (which was our goal), and I think it helps prevent problems when they understand the myriad issues involved in its use.