In this universe, which I classify as groups writing $5mm checks+ and allocating in the tens of millions per year, they do not follow sponsors for years.   

When I have provided it, I write it in the lease that it's not included in the lease and I'm providing it as a courtesy only and if the tenant wants to use it they may and if it breaks down, I won't be replacing it.Allen

I'd bet that nobody with a single working brain cell will sign a lease with your brand new LLC without you personally guaranteeing it as well.As for the writing style, this is totally subjective and unique to each person, but I think you can be professional without being overly formal.

Keep that in mind:)Regarding partnering, have tried it several times and most times it ends with a split.So, if you go forward with partnership, recommend making sure you both agree in writing, on how a split would work.Otherwise, you an both share everything you leanr and help each other out monetarily as needed.

Once we receive notice, in some sort of writing from the tenant, we move forward.

BP should have him write the co-living book. 

Thank you so much for the reply I’ve been writing down by 2025 goals just because right now isn’t my time doesn’t mean that my time isn’t going.

Do we get an attorney to write this up for us?

The property was sold to us for $106,000 ($46000 purchase price+ $60,000 for a full rehab to be completed by ABC Baltimore).After 2 years (as of Aug 2019), I am writing to report that I lost thousands of $$ in this investment (breakdown attached).

I'm writing this in December 2024, when every other question asked on the Bigger Pockets tax forum is about STRs.