This agreement with your general contractor acts as a roadmap, with clear expectations and protection for all parties involved.One frequent mistake is the failure to include sufficient detail or being too vague.

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

Looking for it to be geared toward rentals. 

This gives you a more realistic picture and protects you from unexpected surprises.

If you do, work to protect it! 

Can I protect my equity 2.

That being said, anything can happen, but if you run your numbers accordingly, make sure that your contractor is trusted and do all the other stuff you'll be a little more protected than the next person flipping that does not do this type of calculation. 

In Milwaukee the weather can get pretty cold and we want to protect the tenant, but also the pipes in the property from freezing.For that reason we do have a stockpile of emergency equipment which includes electric space heaters.

With some humility, I’d like to say it’s keeping the finances separated/organized and liability protections, or everyone’s favorite question… do I need an LLC?

Licensing can be such a maze to navigate, but getting it right is key to protecting your projects and investments.