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.

A combination of extremely tough long term tenant protections and the economics of short term renting being a lot more attractive. 

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.

A lot of people in the current fire area had their insurance canceled lately and are really screwed, Reminds me of Florida and the insurance problem caused by the hurricanes. also thing of the Lahina fire on Maui there was no forest there freak down slope winds and buildings that were built with very dry timber with no fire protection in mind.. this stuff happens.

To protect our rights, we would definitely deliver a formal 5 day notice (Wisconsin Legal Blank), but at the same time indicate that we are looking to collaborate to find a solution.

This provides you protection and gives the lender a clear exit strategy,.

If you did and had problems leave them a review with the Better Business Bureau, here and also contact the FTC Consumer Protection division.

It's not your fault that the tenant has to vacate, so the tenant should have insurance to protect them against any additional expenses.

Way simpler and more protective for everyone for about $30/month.Out of curiosity, will you be at red stick REI in January?

Just because the costs might be in the furture does not warrant not budgeting for those known expensesThen there is the misc costs of asset protection, bookkeeping, unexpected utilities (such as between tenants (tenant turn over) or failure not attributable to the tenant such as slab leak).