You must keep the tenants security deposit at a bank that physically operates a branch office in the State of NC.  

You are not responsible for his failure to secure his personal property.

While the co-signers add some security, the family’s newness to the U.S. and uncertain job situation make them a higher risk overall. 

If you're already in a secure financial position, leveraging your equity could be a smart strategy.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

If you google the Wyoming address it is an attorney's address who specializes in setting these companies up and is a mail forwarding service not a "real" office with staff, owners etc.In the one investment document I read, your investment would be in a construction company with no assets and secured only by a UCC filing.  

@Seidy Lasker Wash sale rules apply to stock options if they are deemed "substantially identical" to a security sold at a loss within 30 days, such as options with similar expiration dates or strike prices.

Good luck on your journey and I hope you provide the financial security you hope for to your daughters. 

Glad we're secured, but nothing in rei is passive.

Thanks for the feedback—it really makes me step back and think about this whole situation.To answer your question about the hard money loan: I went that route because I needed to close quickly, and hard money was the fastest way to secure the deal.