Of all the fears and pitfalls on REI, the supply of renters is very low on the list of risk factors.

I am perfectly aware of the potential pit-falls of doing a large transaction with a friend but we have already agreed upon a price, which is contingent on keeping additional costs minimal, including no agents, an arrangement I am comfortable with.

I'd love to here general advice or potential pitfalls to avoid.  

The points you make are valid ones, and it is the reason I want to know what can be done through either a bond or policy that could protect me to some extent from the potential pitfalls.

Why do we not here of these pitfalls when all are recommended to go over-sophisticate the ownership of residential property.  

What are the pitfalls involved in that strategy if any?

Care to share any tips, advice, lessons-learned, or pitfalls I should be thinking about specifically with these lower-end units?

Will he be in first , second or thing position and will he understand the pitfalls of each.

I guess you fall as far as you climb.Now is the time for foresight for investors to avoid the pitfalls of hindsight such as the banks and insurance guys are experiencing today.Regards,

What are the pitfalls?