This is where many new landlords get in trouble for not following procedure do what they "Think" is correct..

Lien laws are state specific and have Very specific procedures to follow in order to file a proper lien, and specific forms to use fir notices and filing a lien.Your contractor should be familiar with the requirements. 

The person or entity who succeeds John as a representative of the estate will have the title of an Administrator CTA.Surrogate’s Court Procedure Act – SCPA § 1418There are typically three situations when an Administrator C.T.A. can be appointed: First and foremost, the decedent has to have left behind a last will and testament.

When I work with PMC’s I’m helping them structure their business to make sure their foundation is solid and also that their policies and procedures align with their culture and also that they are providing the best service possible and assist in getting them there. 

I would ask them what their policy and procedures are for these types of scenarios.

My question is, what is the correct procedure for investors investing in your company?

Always use an agent if possible in all your deals because on the buy side they will know all the procedural process and guide you in that, esp. in the infancy of your career.

I understand the underwriting procedure and know that even if I can provide the nominal NOI and market CAP rate the buyer needs to go through a much more detailed analysis.

If you are serious about owning a rental property business then take the time to create policies and procedures along with proper structure before you even think of buying a home.

If the tenant doesn't pay evict them per your normal eviction procedure.