We plan to stay in this house for more than 5 years unless another great opportunity arises, but maybe it is best to allocate a bigger portion of savings to our real estate investment savings account than our home improvement savings account for the first few years.

Can you please help me understand better what potential concerns in your experience can potentially arise here? 

Buying in a quality area and being thorough with your tenant screening are the best preventative measures you can take to avoid that situation from arising.

There are things that arise that no one can predict such as COVID, and this is a clear example that looking back will never give us the clarity or the insight we think looking forward. 

I’ve often seen this happen where initial approval is given, but debt-to-income issues arise once they discover you’re purchasing another property.

If you are consistent with these action items you will avoid most claims, your business will be more profitable,  operate more efficiently and if a claim were to arise you will have all your ducks in a row. 

It's important to consult with an attorney or an accountant to determine whether an LLC is the right choice for your specific situation.You can reach out to me and my team who can guide you through the process and help you navigate any challenges that may arise.

Additionally, when a problem arises, those problems get addressed and all parties involved are updated.Being a property manager is a hands-on / high touch vertical.

Our current manager is in Huntsville and it is becoming clear that we need someone more local to Cullman who can be on top of showing our listings and taking charge of maintenance and repairs as needs arise. 

@Nate McCarthy the odds of disputes arising are considerable.