You can ask for proof of funds or if he submits an offer real money in escrow (ie NOT a note or nothing-down).Willingness to put money at risk separates the adults from children in this business.

I would suggest trying to find Single Family homes where you can have separate living spaces (walkout basements, separate entrance) that way you get the comfort of a duplex without the price. 

That company must look and act like a true company, with all expenses and bookkeeping kept separate from your personal finances.

Two separate things...the code enforcement violations will actually be an investment in improving your property.Evicting a non-paying tenant will actually be a financially and emotionally rewarding experience for you.  

double closing is allowed in NC but would have to be separate pots of money and treated as two separate transactions. is this correct?

I fully intended to rent it out by the room, but while reading some HOA documentation I discovered it very clearly states:"Leasing: Any dwelling that is leasedshall be leased only in its entirety; separaterooms, floors, or other areas within a dwellingmay not b~ separately leased;"Short term rentals are not allowed, either. 

The home is a 3 story house with a large separate two-story garage behind it, the garage has a two-bedroom apartment on the top level.

It's better when they're written separately, but a good title lawyer should be able to write up the amendment to protect you and the seller if it needs to stay as one agreement.Good luck!

If you want the asset protection/separation of the LLC, that's part of the price.You really should consult with a few qualified professionals. 

The fee covers 3 of my entities and keeps this separate from my personal address.