We use docusign to send a reservation agreement which essentially makes them sign the house rules. 

I created The Ultimate Guide to Grading Cleveland Neighborhoods for investors to get an idea on what types of houses and tenant bases they can expect when investing in the varying neighborhoods in the Cleveland area.

Let’s say I bought a house cash.

Any company insuring your properties without an inspection most likely has a clause buried deep in their policy allowing them to deny claims for conditions found on the property that do not meet their UW standards and they will deny you claim based on "the house should have not been insured with them anyway".Although the inspections can be annoying look at it from the other side.You pay them 1000 to 3000 a year to insure a rental property where they agree to pay out possibly hundreds of thousands of dollars if it burns down or up to 1 million if a tenant slips on a bananna peel and falls down the steps or the tenants dog bites someone and since you didn't enforce the tenant having their own renters policy to cover the dog bite the landlord's policy is paying out.The insurance company is very much like your rich uncle backing your business venture - you run the business, he takes on the financial risk from disasters, and doesn't even get a say in who lives in the property.Your rich uncle asking you to fix the steps, put up a handrail, etc which is in your and his best interest long term.Do you really want to rent out a property with a busted front step and a bad roof that is going to leak sooner than later?

We are currently looking at purchasing a small condo for a recent development called Caribbean Town https://hkgrealestatearuba.com/caribbean-town/.We are gathering a lot of information to see if the numbers work in our favor.

The cash flow houses help me to hold on for the long haul, while the appreciation houses enable me to buy more houses.  

I am currently in the homebuying process, looking to close on the house in the next few months and house hack it.

Your first purchase with your brother should be a house hack of a multi.

My desire is to create profit by commercial units or owning multifamily units in order to provide housing as well as generational wealth.

Limited appreciation, old housing stock in need of major capex, population decline in many markets...Can you pick a market that's a couple hours away so the price point is lower, but you can be in-person and hands-on?