This can offer some liability protection and ease the transfer of the property to heirs.Record keeping:Maintain detailed records of all expenses related to the property conversion and ongoing management.Lease agreement:Ensure you have a comprehensive, legally-sound lease agreement tailored to your state's laws.

Check to see how many they failed and what the issues were.

Only issue is I'm self employed.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I only do long term rentals so I shouldn’t have an issue with that.

That is a local issue.

“Several weeks later after I asked for additional information as this did not appear to be the case I received this:“Thank you for following up on this issue, I apologize for any stress this situation has caused and for the delayed response as we work through higher than average volumes.

It's relative to what expectations are.

You will basically be giving up a large amount of your privacy to a relative stranger.  

I've always kept my properties to code, addressed any issues brought up in insurance inspections and run it has a good business.