@Jonathan Greene infers from your use of the term "lease" that this tenant started off on with a lease for a period of time such as 1 year and then when the lease ended no new lease with signed and the tenancy continued as month-to-month under the original lease terms.

That should help significantly.

Hi all, interested is how this is going.

Curious why did you find this a red flag?

There are pluses and minuses to this.

Separate bank account, credit cards, signature blocks for every contract and document you are signing for LLC. 

@John Steffen, any chance you still have this list?

When I was investing, this is what I did to help locate the right wholesaler - I would supply them VERY specific details of what WORKS for me in the way of a property.

But you'd have to be quite involved initially, especially to get access to better SBA lending. 

Since your friend covers utilities, this offsets some of your cost.