Where it gets sticky is that he may need/want a recordable debt instrument to protect himself in addition to stipulations in the operating agreements.Getting to the valuation should be straight forward and of paramount interest to you.  

And when a new lease comes up, I would have stipulations in it about driveway parking vs street and risk associated with any landscaping on the property.If it happens to be worth big $$....which it probably isn't.... then that's another story :)And NO WAY, am I ever going to let some FREE guy off craigslist cut down a tree for me....not a chance......

Hey @Jeff Kehl you’re right, Hawaii is maybe the best place on earth for vacation rentals, but it comes with some stipulations.

But I advised them they had to wait 60 days as per stipulated in the lease before doing anything about it.

Now as investors we do have to play by the state, federal, mls, and other guidliness stipulated by the payoff demand approval letter.

In most cases, unless the contract stipulates you can NOT assign it, then the contract is technically assignable (at least in most states.On the multiple transfers inside 12 months when the end buyer is FHA - You can still do it, but FHA will require that 2 appraisals be done and the buyer can not pay for the second one.

Also my contract said no smoking in the house but didn’t stipulate the garage.

Also I couldn't find any insights on my ability to be able to refinance or even get out of the guarantee stipulations in the future.

You may also want to stipulate what colors the tenants are allowed to use or have them approved by you before they purchase the paint.

The Animal Addendum these tenants signed was specific to the animals I approved, and there is a stipulation that "No other animals may be added or substituted".