This may result in late fees and eventual eviction if not cured within the legally provided time. 

This is definitely a good place to start and to network with people in the market you are looking to invest in.  

You've left it to us to assume that you are charging under market rent which doesn't cover your costs. 1) Once you've figured out what you could be charging the public, knock a little off for a friends/family discount and present them with legal leases.

Negligence is only a cause of action when there is a legal duty owed. 

If not rented at fair market rent, this property will just count as your residence, not a rental for tax purposes.Structuring the property under an LLC or land trust could trigger a due-on-sale clause, so check with the lender before proceeding.To minimize risk, consult a CPA for tax strategy, weigh financing costs, and draft a legal rental agreement.

I would search the BP forums because your tax / legal related questions likely have already been asked.However, it doesn't hurt to still ask the forum what your questions are.

. 🤙🏼 Let's definitely hop on a Zoom or grab a coffee! 

There are some legal considerations as well as practical considerations 1.  

It is imperative that you take this action to prevent fines and legal issues.

To attract investors, offer incentives like high cash flow potential and tax benefits, and structure the deal with clear legal terms and contingencies to minimize risk.Good luck!