Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.

This allows the sponsor to buy a nearly $50M property with just a few million of investor equity--but it provides zero resiliency to an adverse market. 

I do not sign the lease, either, until they provide all funds and sign.

Now instead of just yelling at you all, I will try to provide value.If you do send DMM (I am HIGHLY against DMM), think.

Has anyone used an affiliate marketing strategy to refresh their property, create unique experiences and provide local products to their guests? 

@Travis AndresIf you do not have other assets to secure against - your best bet would be a private lender willing to take risk of essentially providing an unsecured loan.There are people out there that do this - expect very high interest rates.

Any other information or resources you can provide would be helpful.Thank you. 

Properties can’t be continuously valued so you have a really hard time providing transparency and avoiding insider trading.

The original lease was provided by the Real Estate company who listed our place for rent and secured my tenants. 

Does anyone else have a provider they recommend?