We had a couple of inflation hits, but they ended relatively easily.

Assuming one of you will be claiming this as business income, you should have a separate business bank account and here's the relatively short answer why. 

Be prepared for maintenance and repairs, as well as dealing with tenant issues and potential vacancies.

Did you overpay or is it a tenant issue? 

I recommend checking with an investor-friendly lender that you won't issues with obtaining a loan on your 3rd and 4th purchase because your DTI (debt-to-income) ratio may become too high. 

I've my fair share of tenant issues in those years including many, many evictions. 

I am currently living off a small amount of self employment income, savings and 401k due to health issues so I don't go on the financing per my lender. 

It appears that the advice you are seeking should be coming from, in part, a real estate attorney who can navigate the issues you are dealing with (especially in light of the consequences across the ocean).

Hopefully the end result here is more reasonable for those involved, but even more importantly I hope that other LLs recognize that this is a shot across the bow to start following the law more carefully.Matt, I would agree with that notion, but some of these issues are less than grossly one-sided in this case it was the deadly sin #4 that got him.Here is some detailed information from Atty Tristan Pettit's blog:The 10 Deadly Sins: 10 Provisions That Landlords Cannot Include in Their Wisconsin Residential Rental AgreementsPosted by Tristan R.

I'd like to be your contact for anything REI related in Memphis.