Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).

This is why it is important to get an estoppel certificate signed by tenant and seller prior to taking on a inherited tenant.

Need CCIM certificate.

Generally, under the certificate of formation, under the supplemental text section of the form, you add the series information.

The barrier is the additional complexity - now you are operating two sets of books, and filing two tax returns, and have more operating agreements, more state registrations, etc, need to manage cash better, need to keep in constant mind that your rents need to be a supportable FMV, which may require getting third party certification on your rents so that in the event of an IRS audit, what you have done is supported.In short...the size of the project, and the taxable income, need to be of enough scope to make all the additional costs and annoyances worth it. 

@Presley BeckerMake sure to get estoppel certificates from the tenants. 

In TX it's all about series LLCs lately, and if the correct language isn't in the certificate of formation and operating agreement, then they don't have a series LLC.

build to rent is great. they are an intermediary that help investors contract direct with turn key new build. they are pretty sophisticated we have sold a house so far and we are looking to sell other multifamily with them. there is a vetting process and as an intermediary they don't control construction they help vet builders and establish relationships. they have a big team. the other builder I've never heard of but unless you can see your house I wouldn't touch it. rent to retirement has a strict policy of 90 days until certificate of occupancy until they will send a deal out they are good at what they do and I'd recommend them. they have options all over the country and established relationships.

Parking and the number of occupants must not exceed the limits set forth in the Certificate of Occupancy or the TPLE license issued by DBPR.

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