My concern is I feel as though I can do all the research in the world, take all the precautions, take my time, etc.

Is it wise to get tested, or just act as if it's there and take all precautions? 

Is it wise to get tested, or just act as if it's there and take all precautions?

These are just precautions to make sure they leave on time.

It just seems like I should take some sort of precaution if people are going to live in the property for a week and a half after we technically own it. 

Showing safety precautions as well as items that you obviously thought through (Parking, garbage, etc) can be all the difference. 

There will be pressure in this market to buy without these protections but I think it is better to take longer to buy than to buy without the proper precautions being taken. 

- What extra precautions / legal compliance do you have to take to have these types of tenants in your property? 

I'm still very new to this and considering it is the first house I intend to generate cash flow with, I want to take as many precautions as I can.

While a downturn could eliminate the ability to do a 75% LTV refi without putting in more cash, that doesn't mean the property is upside down (that would have to be a crash as bad as or worse than 2007/2008, which I don't think anyone expects, so I don't think I should be taking precautions against this), which means I should still be able to sell it for a profit (which also gives me more cash available for my next deal to implement strategy #2).