The pref layer is a third party institutional player.  

There are thousands of pages on consumer protection laws and regulations that depending how you go about doing a subject to could be against these laws and regulations. so like most things - is itillegal - it depends.  

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Figure out ways to enforce rules to protect yourself and the other renters.

You may also need to provide additional documentation, such as proof of income and employment, and may need to have a co-signer who is a U.S. citizen or permanent resident.In terms of buying with an LLC, it can be a good option for some foreign buyers, as it can provide additional liability protection and potentially offer tax benefits.

An experienced  " player "  has all, you need nothing !  

Urban Development land swaps are often used as a strategy to: - Consolidate public land holdings - Acquire important natural or recreational areas - Facilitate development while ensuring community benefitsLand swaps can provide several benefits to communities: - Preservation of open spaces and environmentally sensitive areas - Creation of new public parks or recreational facilities - Protection of wildlife habitats and corridors - Improved land management efficiencyI searched for some Urban examples for reference: 1.

We go above and beyond when it comes to protection.. starting with insurance coverage, sings in the listing and in the property that there is no guard on duty (as silly as that sounds), putting extra locking device high enough so youngsters can't reach, an alarm/beep system to alert them that door opens for those with small children (or elderly) so they cannot wander out in the backyard with no one noticing and risk drowning.

It seems like I need to check further away from the DMV area.My feelings are if you want “cash flow” you should buy a bond (I really like the tips rate right now) there is next to no reason to buy real estate for cash flow, if you are going to buy you should buy with appreciation in mind, which is not to say that’s the route I’d go, I’ve been liquidating properties to put in stocks and money market funds over the last few years and u just did the math and I’ve come out well ahead, but just to say there are arguments for stocks/bonds, there are arguments for levered appreciation, but the cap rates pretty much anywhere aren’t worth it vs an inflation protected bond, especially since a 3/rd of inflation is real estate anywhere, you could get “cash flow” and inflation protection much easier through a tips.

However, since you put the asset into an LLC, I am going assume you care about asset protection and further this discussion just a bit.My advice to you is to seek out local banks where much of their business is derived from commercial lending.