What’s your communication style and preferred level of involvement with this deal?

When I partnered with friends on a multi-unit property a few years ago, we chose individual umbrella polcies from our personal providers.

Also, in a mainstream asset class like value-added multifamily, I see no reason to take a risk on a sponsor that doesn't have full real estate cycle experience or that lost anything more than a small amount of money (and prefer no money lost).

Whether its for investors, agents, or just a general meet up for like minded individuals .

These services help identify any red flags that an individual review might miss.Regularly Update Rental Criteria: As fraud tactics evolve, so too should your rental criteria and screening processes.

This property is unique in that we can rent out the whole property or we can rent out the property by individual rooms because each room has its own bathroom and it runs as a bed and breakfast.

I prefer graduate students whenever possible because they don't have time for partying, are of legal age anyway, and generally tend to be by themselves or with a partner so it's more like renting to a couple.

Taking the loss now is preferable to paying out monthly for the privilege of being a landlord.

Check their social media profiles to gauge whether they are reliable individuals.

Replacing a bathtub with a shower can make narrow bathrooms feel larger and more modern.That said, consider keeping at least one bathtub in the building for market appeal, as families with small children or certain renters may prefer it.