In the comments of the first, attorney Clint Coons advocates the land trust/LLC technique.http://www.biggerpockets.com/renewsblog/2010/10/14/will-your-real-estate-asset-protection-stand-up-in-a-fight/http://www.biggerpockets.com/renewsblog/2009/03/11/land-trusts-asset-protection/http://www.biggerpockets.com/renewsblog/2010/09/23/land-trust-traps-for-the-unwary-investor/http://www.biggerpockets.com/renewsblog/2010/09/30/land-trust-traps-for-the-unwary-investor-2/Clint's BP site: invaluable reading.http://www.biggerpockets.com/renewsblog/author/ccoons12/

Do you have any passive losses trapped in the property?

There should be a clause covering insect infestations in it stating that if nothing is reported within the first couple weeks of the tenant moving in the tenant is responsible for the extermination.

Any trap doors I should be looking out for?

Also and more important, what is your strategy or how to avoid falling into the trap of acquiring too much debt? 

I had the property inspected yesterday and the property was solid structurally, plumbing, and electric wise, but it did have a bunch of minor problems here and there:- Guard rail on stairs needs reinforcement- 3 faucets need replacing- Water line not hooked up to one toilet- Washer not hooked up- Couldn't get Furnace to work due to Thermostat not functioning correctly- Dead mouse in a trap in crawl space- upstairs bedroom door needs re-adjustment - doesn't close shutWould this prevent the property from passing an FHA inspection?

They won't empty lint traps.

Hi Kelly, Disadvantages: DSCRs typically have higher interest rates than conventional financing since they commonly come from a private lender.Avoid: If you know you only plan to hold the property for 1-3 years before selling it or 1031 exchanging it, don't get trapped in a loan term pre-payment penalty since lenders will give you a lower rate in exchange for extending the PPP timeline.Lender: Talk to other investors and agents and see who they recommend for a DSCR lenderIf you have any additional questions, I'd be happy to answer them. 

I found traps containing this substance on the rental side but I do not have a toxicity report from a vet (I was too distraught to ask for one).I removed the toxic traps, I do not trust my renter,  and I am uncomfortable living with a person who violated my request.

Section is a 8 trap; it's how the government literally created a landlord system.