@Cristal Ochoa @Leiah DotlichI will preface this with the fact that I have a legal background, specifically with estate planning and asset protection.

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

The process protects both their system and users against fraud and aligns with banking regulations, especially given the financial data involved in property management.

It’s worth researching to see if this might be a good fit for your situation.Lease Structure and Clauses: Work with an attorney to draft a lease with strong clauses for late fees, maintenance responsibilities, and other terms to protect your interests.Target Stable Tenant Profiles: While no tenant is risk-free, targeting tenant pools that historically have more stability (e.g., retirees, dual-income households, or tenants relocating for work) may reduce risk.Stay Up to Date on Landlord-Tenant Laws: Understanding your rights and obligations can help you navigate issues more effectively if they arise.That said, if the potential risks are keeping you up at night and the financial pressure of an eviction would be too much, selling may still be the best option for peace of mind.

Quote from @Devin James: Quote from @Dominic Mazzarella: Quote from @Devin James: Everything went wrong with this investment:   - Took 4 months longer than expected   - Cost $10K more to build than we anticipated   - Sold for $20K less than we anticipatedWe still profited with a 30% return on equityThis is why I love Real Estate InvestingWhen you do your diligence and stay conservative with your numbers, it takes something really bad to lose money.Here was the original post:My siblings and I are building a home in North Port, FL.Here are the numbers: - Finished Home Value: $412Kish - Land Cost: $19,750.39 - Construction & Permitting Costs: $304,897Additional costs: - Environmental Site Assessment - General Liability Insurance - Builders Risk Insurance - Construction FinancingWe will be listing the home this weekPhotos coming soon!! 

So your saying select No Damage Protection and just submit an extra charge when it's warranted? 

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.

LLC offers better legal protection.3) Setting up in states that allow your identity to be hid is also overblown.

Use tax benefits like depreciation, repair deductions, and tax-free refinance proceeds to offset income, and consider an LLC for liability protection.

Also assuming your practice is going well, consider talking to asset protection attorneys.