Quality, experience, knowledge, track record of sponsor2.

Knowing this information will help you identify the right professionals to bring on board.At minimum, your team team should include:Financial Advisor: to help with investment strategies - portfolio diversification and risk management.Real Estate Agent/Broker: to help with property acquisition and market analysis.Accountant or Tax Advisor: to help manage financial records, tax planning, and optimization.Attorney: to provide legal counsel for contracts, agreements, and investment structures.Mentor or Coach: to offer guidance, insights, and industry knowledge.Networking and Relationship Builder (for everything else you will need): to connect you with potential partners and collaborators.

Treat your family private lender like (or better than) any other private or HML: promissory note and lien recorded against the property.

There were also no records of any people storing units on the site.

However, tenant's credit history will take a dive and be on record and since I'm the property manager (me / owner), I will not vouch for tenant when seeking for a place to rent in the future.If I go with option "b" and the tenant / tenant attorney agrees and signs an agreement to make it official , at least I can get back my money within 10-15 years.

They can limit what property owners can do, including house hacking.Even if the city has no restrictions, if legally binding and properly recorded, covenants can enforce rules that supersede local ordinances for those living within the neighborhood.

I charge a really high fee and require the tenant to carry bite insurance.Inspections are done on a schedule and always recorded with pictures and/or video.

Recommendations for you would be to keep super meticulous records of all the costs you’re putting into the property, so your tax pro can make sure you’re capturing everything 1) correctly and 2) in the most tax advantaged way. 

Stay Organized: Keep detailed records of all expenses, timelines, and communications.

I had the sense to record the conversation with himself and the project engineer and the audio quality is quite good.