You'll also want to ensure you have a good property manager to look after the upkeep of the property if you are not there to notice anything deteriorating or which may need attention.This article goes into a lot of the considerations about whether to form an LLC or not: https://www.mmpph.com/wp-content/uploads/2019/04/May-2019-newsletter.pdfCreating an LLC in California would cost you a minimum tax of $800 every year.

My partner and I would like to ensure we are not advertising the property specifically but rather the contract.

Given your closet situation, which isn’t ideal, I would cordon off a section of one or more closets, while still ensuring that every bedroom has at least part of a closet for guest use.

@Carson Pethan glad to hear you got the forms from Wisconsin Legal Blank - they are very good contracts, you need typically 5 or 6: the lease, rules and regs, lead addendum, smoke and CO, pet agreement and non-standard lease provisions.At the day of closing provide the tenants with an intro letter to ensure them they are not getting kicked out, plans for new leases, your contact info, how to best reach you and when, how you wish to receive rent and anything else that matters to you.You could consider keeping the leases, MTM has certain advanatages for the landlord - but if the contract is poorly written might as well...1.)

I'd love to have more D4D leads but don't have the time to commit to performing this consistently.As you grow your business, it's important to have various lead sources to ensure consistent deal flow and financial stability.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

As someone who has a big focus on working with investors, I want to ensure I am able to gauge who will be most helpful in dealing with unique situations, creative financing, etc.

This may seem like a hassle, but if you are going to move or use money in retirement accounts, HSAs, FSAs, 529s, etc. it is always better to ensure that you are doing something that is allowed and that you are doing it the right way so you do not get kicked in the checkbook by the IRS.Always be cautious,Allen Fletcher

If you did not order an appraisal, then you have just learned the hard way that you need to measure out the square footage yourself, at least calculate a rough estimate to ensure the number in the records is accurate before purchasing the property.

How do I handle ensuring enough cash reserves for an apartment when I don't have a large amount of capital?