Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Since it sounds like you're already tuning in...I recommend connecting with a real estate agent that you trust who can help you identify opportunities in your desired neighborhoods.

@David Medina Patch of Land continues to be a trusted platform by thousands of accredited investors.

I do plan on finishing the basement and establishing an address at the property so all of this will go away soon, but I want to do my best to comply in the mean time.

what the PP and address ? 

You don’t mention where you’re from, but municipalities have ways of determining whether you actually live at a property or not (i.e. change of mailing address, more than one property in your name, etc).

Also, I would recommend finding a real estate agent that you trust, and begin talking to lenders (banks, mortgage brokers, credit unions, etc.)

Downfalls: Must know your numbers on the asset, trust the investor, and have multiple exits if/when the market softens. 

Sorry to be a downer, but trust me when I say that, a few years back I WANTED to invest in Denton, but for now, I'll pass.

You can sign a bare trust at the lawyers for a few hundred bucks to be secure.Unfortunately, if your name is on title, then you need to service the debt.