Contingencies at one time were used just to protect buyers from conditions that were not easily seen at contract signing.

For those that might holler about liability protection:  we have kept them leveraged with cash-outs, have a substantial umbrella policy in place, and very simply we just make sure we keep the properties maintained and are good operators with happy residents.We are now transitioning into a more commercial space and plan to roll out that LLC structure.  

We have a 14-page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

Just make sure you're protected on the legal side if things do go as planned. 

Wyoming LLC is just for the asset protection.

LLCs usually provide an extra layer of protection between you and your investments.

Currently it is all under a single LLC but not sure if this needs to shift to a C corp and looking to take in a partner on the construction side so need to make sure everything is separated and protected. 

If he is willing to carry the house completely no payments until we sell etc. what is the best way to protect everyones investments to make sure everyone is set?

Any time you have a renter, you should provide them with a Lead Paint Disclosure Form and the pamphlet on how to protect themselves from lead paint.You can get the form and pamphlet here: https://www.epa.gov/lead/real-...

What other things I can do to protect myself in this situation?