This would make it a lot harder for someone to seize the house in the LLC if they obtained a judgement and the judgement went over the insurance limits (or insurance denied the claim).This setup sounds pretty solid, but the initial setup cost would be about $2000, and then of course there are the annual fees for the LLCs, and the registered agents, if necessary.

As a general rule, any item that is an improvement to the property (new windows, roof, sidewalk) would be capitalized and items that are more short term in nature would be expensed (plumbing or HVAC repairs, paint, etc).Of course, there are times when plumbing, HVAC or paint might be appropriately capitalized so this is where some judgement must be exercised.

"collecting on the judgement..."

I find that Canadians who invest here do so for two reasons: sound financial judgement (Returns are great here) and the attraction for a warmer climate.I look forward to helping those of you want to adventure outside of their homeland.Thanks

Nicholas  Peak in KC will do foreigner loans for rentals. usually 40 to 50% down about 7.99 % and about 5 to 10 points.plus i know other local private guys that will do about the same.these are non recourse loans.. simply becasue no one can foreclose on you and get a judgement against you since your in OZ.  

This takes a LOT of my time.If I went to get a judgement against this tenant for the balance of the lease (if I could even find them to serve court papers), the judge would tell me to go pound sand, absorb it as a business expense, go re-rent the apartment, move on with my life and quit bothering him with this "nonsense."

Make your judgement based on the individual deal...same as 3 or 4 bedroom homes.

If the contractor doesn't show, you'll get a default judgment.Now getting a judgement is one thing, and enforcing it is another.

I am considering switching to Rentprep though just so I can add the judgement screening but still up in the air and shouldn't have any vacancy anytime soon.  

Thanks everyone for your response, I spoke to an attorney regarding this matter and they say a Notice to Quit is mandatory before starting Judgement of possession and the eviction process.