It's basically yearly treatment to protect the home from termites.

Also to have a lease agreement in case things go wrong you have a way to protect yourself.  

As a bulk-delivery service, we have to protect the deliverability of all our customers.

If we buy this loan, we need to have a thorough game plan on how we are going to be resolving this and understanding these dynamics is key to managing expectations and protecting investments.Sounds like a deal more for someone that buys partial inheritance estates and spends years piecing it together than a note investor.  

I completely agree with the advice and I'm perfectly okay with not charging him rent.My concern is that by treating this property differently from all the other units in the Series LLC, I may be opening myself up to a situation where I'm weakening my LLC protections even if I keep the financials separate and in order.

Brokers protect the interests of all of the investors, but investors only want to protect their own interests, which can leave some investors out in the cold. 

Not only does it protect you, but it also provides the opportunity to open checking accounts for each property under its LLC, which will make tracking income and expenses much easier.

Notably, there is often an unfortunate cycle where: (1) current ownership has financial struggles; (2) this requires the current ownership to fire sell or declare bankruptcy; (3) the development suffers as a result; (4) new ownership comes in and tries to fix it; and (5) the cycle repeats.

Using escrow company & title insurance will protect you from an unwanted surprise.

There are less restrictions in North Las Vegas and Henderson.The city is very protective of the big casino/hotel operators, and rightfully so.